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Daily market wrap after the May WASDE showed Chicago, Kansas and Minneapolis wheat moving in different directions. Corn rose while soybeans fell.
USDA projected larger global supplies, higher trade and higher ending stocks.
Wheat's mixed moves and larger USDA supply estimates point to a soft wheat outlook. Corn's gain shows only limited support from the report.
graincentral.comGuest AuthorMay 13, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Post-WASDE market wrap noting larger global supplies, higher ending stocks and weak wheat price action, confirming the bearish sentiment shift around the report.
