Jun 09, 2023

The monthly WASDE report came and went with no surprises for corn or soybeans and the market reacted appropriately with no reaction at all.  The only changes were small cuts to corn and soybean exports which trickled down to small increases in stocks.  Probably the most noticeable line items are the 2023/24 yields being left unchanged.  Corn was down 9 prior to 11 a.m. and steadily trekked back towards unchanged after the report release.  Soybeans legged higher on the charts with gains of 14-23 cents. The USDA lowered crop production estimates in Argentina but also adjusted Brazil numbers to make up for it.


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