Markets React to WASDE Numbers and Uncertainty at the Border

Tight U.S. supplies but growing global stocks—those were the key takeaways from USDA’s latest WASDE report. Both old and new crop corn and soybean ending stocks came in below trade expectations, sparking early market support. But global soybean stocks were raised, tempering the rally. Meanwhile, cattle markets were watching the southern border, after the U.S. temporarily closed it to livestock imports in response to a New World screwworm outbreak. Add in some much-needed rainfall across the Plains, and you’ve got plenty of pressure working into today’s trade.

Sam Hudson with Cornbelt Marketing give todays market wrap up