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Midweek Markets: How WASDE moved the needle

Corn and wheat prices fell after today’s report, while soybeans held firm – but why?

USDA’s monthly World Agricultural Supply and Demand Estimates (WASDE) report typically makes some impact on the grain markets on the day it is released – and the latest report was no exception. Corn and wheat prices slumped lower today, while soybeans climbed another 1.75% higher.

What were some of the underlying supply and demand data points that created this uneven shift in grain prices today? How are U.S. export prospects moving forward? And will corn and soybeans be able to achieve trendline yields in 2021, which is USDA’s current assumption?

We talk through these questions and more as we try to untangle the most important pieces of this month’s WASDE report.

Listen to Midweek Markets podcast for May 12, 2021:


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