The July World Agricultural Supply and Demand Estimates from USDA are typically a yawner for traders, but BOLT Marketing market analyst DuWayne Bosse says last week’s USDA Acreage and Stocks Report changed things. “Usually the June acreage report has the final acreage number, but that’s not the case this year. The big question in this July report is what acreage do they throw into the supply and demand tables? Do they use the June 30 number, which is higher than anticipated for corn and lower than anticipated for soybeans or do they go somewhere in the middle?” Bosse does not expect USDA to make major changes to their numbers. The WASDE report will be released on Thursday at 11 a.m. central.
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