On Friday, we saw the release of the June WASDE report from USDA. In the report we didn’t see many changes as expected. However, soybean ending stocks did come in below trade expectations for both marketing years. Old crop soybeans came in at 205 million bushels while new crop ending stocks came in at 280 million bushels. U.S. corn stocks came in above expectations and USDA raised Ukraine corn production on the report.
Hear comments from Arlan Suderman of StoneX below:
View the full WASDE report from USDA here: https://www.usda.gov/oce/commodity/wasde/wasde0622.pdf
More analysis from DTN here: https://www.mydtn.com/agriculture/web/ag/news/article/2022/06/10/usda-releases-june-crop-production