USDA’s April WASDE report was considered friendly for corn and neutral to bearish for soybeans. Global Commodity Analytics and Consulting President Mike Zuzolo says the spread action between corn and soybeans makes sense. “The wheat and corn look extremely strong from a standpoint of both supply and demand. The world soybean ending stocks, because of Brazil’s two million metric ton increase in production, added more than 3.7 percent, almost 1.8 million tons above the highest trade guess.” Read the global supply numbers and U.S. ending stocks from the report.
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