The May USDA report numbers were mostly neutral to the grain trade. In terms of the new crop balance sheet, U.S. corn production is forecast at almost 15 billion bushels, slightly higher than last year. U.S. soybean production is forecast at 4.4 billion bushels, also slightly higher than one year ago. All wheat production is forecast to increase from last year at 1.87 billion bushels compared to 1.17 billion bushels. Read the entire report.
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