The May USDA Supply and Demand Report confirmed large U.S. and global supplies of grain. Stewart-Peterson Senior Market Advisor John Heinberg says large supplies seem to be a trend in 2019. “Looking at the carryout number on corn going up more, close to 2.1 billion bushels. A big number that caught my eye was next year’s early estimates going back into 2.4 billion bushels of carryout.” Soybeans made adjustments on demand. “We’re short of the billion bushel for this year’s beans to 995 million bushels,” says Heinberg. “The heavy supplies continue to weigh on the market.”
