Each month, USDA releases the World Agricultural Supply and Demand Estimates (WASDE) report. Some months, WASDE has very little impact on grain prices.
This month was not one of them.
In fact, after showing lower-than-expected yields, production and ending stocks, corn and soybean prices shot up more than 3% on Tuesday immediately after the report was released.
The report held a lot of other supply and demand data both domestically and overseas that warrants monitoring. We walked through what’s happening in the U.S., South America, China and other locations that could reveal where prices could be headed next.
Listen to the latest Midweek Markets podcast for November 11, 2020: