Wheat the Bullish Surprise of the WASDE: Corn and Soybean Ending Stocks Above Estimates but Corn Market Holds Together

Markets Now Midday Markets and Report Analysis 5-12-23

The WASDE report was bearish for corn and beans with a 2.22 bb ending stocks number for corn, 335 mb for soybeans.  But bullish for wheat with winter wheat production 100 mb below trade estimates due to above average abandonment and lower yield.  Jim McCormick of AgMarket.Net discusses the positive rally in wheat and why corn is holding together with the bearish numbers.  

 

 

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