E147: Looking Back, Looking Ahead with May WASDE

The May WASDE dropped Friday, May 12th, as market watchers waited with high expectations for USDA’s latest insights as plant2023 continues. A number of unexpected adjustments made this a May report to remember, especially as the outlook for a possibly bin busting crop collided with continuing tight stocks. DTN’s Lead Analyst Todd Hultman joins us to dig into not only the latest on old and new crop demand and how the market is interpreting the most timely information on shifting weather, feed demand, and persistent wetness that’s thwarting planting in North Dakota. He’ll also give us an update on ethanol usage, the global ending stocks picture with surprises from Brazil, and the unpredictability in current beef and pork markets. We’ll dive into outside pressures after the latest jobs report, global trade, and what the looming new wheat season might hold.