USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report, out May 12, jostled the grain markets in some interesting ways. Corn prices actually firmed Tuesday, despite generally unsupportive data from USDA. But the data triggered some technical selling that pushed soybean and wheat contracts into the red.
The agency’s latest crop progress report also underlined some interesting trends unfolding this spring – including a much faster-than-normal corn and soybean planting pace, as winter wheat crop quality continues to show plenty of volatility.
What does it all mean for grain prices moving forward? Ben Potter and Jacquie Holland took a look at all of the latest numbers to give you a clearer picture of what’s going on right now: