Traders continue to position ahead of today’s USDA Supply and Demand numbers. It’s typically not a market moving report, but anything can happen with global uncertainty. Comstock Investments market analyst Joe Camp says there are a lot of moving parts. “Whether it’s South America production or in the U.S., where are we at on ethanol? Demand is pretty strong.” What USDA does with demand for commodities is another wild card. “Earlier this year, we had really good numbers and interest from China, but it’s tapered off a bit. Then, on June 30, there will be a stocks and an updated acreage report.” The June WASDE report will be released at 11 a.m. central time.
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