E193: May WASDE Brings Optimism

The May WASDE dropped Friday May 10th, bringing with it a bullish mood for corn and wheat markets that was strong enough to even offset some pessimism in the soybean arena. With US planting conditions taking a turn for the wet and disagreeable weather rearing its head in Latin America, the USDA’s initial outlook for a record crop seems to be fading already. DTN’s Lead Markets Analyst Todd Hultman joins us today to dig into the USDA’s latest numbers for both old and new crop grain stocks, with an eye to conditions this season and what the market indicates is likely beyond. We’ll dive deep into the demand picture, covering ethanol, crush, exports, and feed demand, plus we’ll talk about how traders are reacting to the latest market moves and how that might be affecting prices and basis going forward. Then discuss how soybean demand from China at the moment might be a good sign for demand in the coming months. We’ll also talk through the latest on sustainable aviation fuel, how the planting picture might evolve in the coming weeks, and the latest on how bird flu is affecting cattle markets.