Midwest Market Solutions President Brian Hoops says USDA surprised the trade by cutting wheat production more than expected in the May World Supply Demand Report. “We knew it was going to be down, but it’s below last year’s crop as well.” The soybean carryout was well above last year and trade expectations. According to Hoops, any big shift in crop supply estimates would have to come from some sort of weather event.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.