World Perspectives
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The WASDE Dilemma

USDA will release its WASDE updates this Wednesday, 11 July, at 7:30 a.m. This could be one of the more interesting supply and demand reports since back in 2007/08 for a number of reasons.

Dry and hot weather has (and continues to) ravage the Corn Belt since the June report was released. The June report held the corn yield at 166 BPA and the soybean yield at 43.9 BPA. It also showed increased harvested acres of both. The supply sides of the corn and soybean balance sheets have changed dramatically in just 30 days. Most analysts today are using a sub-150 BPA corn yield and a sub-42 BPA soybean yield with fewer harvested acres for both crops because of poor and declining crop conditions.

Soybean futures established new all-time hi...

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From WPI Consulting

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