The USDA released their important May 9 World Agriculture Supply And Demand Estimates report today.
Moe Agostino, Senior Commodity Marketing Strategist for Farms.com Risk Management will provide his analysis on this report later on today.
Here are some thoughts and observations:
Corn - Slightly bullish old crop and bearish new crop with higher yields projected.
Soybeans - Neutral as projections close to market expectations.
Wheat - Bearish with lower yield prospects supporting prices in fall.
More to come later as we review the numbers.
The full report can be found on the following link.
http://www.usda.gov/oce/commodity/wasde/latest.pdf
Full coverage of these USDA reports will follow.