E198: Slow Planting Dogs June WASDE

The June WASDE dropped Wednesday June 12th, leaving markets unmoved despite expectations that USDA might recognize the weather that’s kept US farmers out of the field in many regions. With plenty more season still ahead, and a few more opportunities for the department to bring down the current record yield estimate for the 2024 crop, analysts and growers alike will turn back to weather forecasts and other news to get a better picture of what might be ahead. To help us make sense of this report, DTN’s Lead Markets Analyst Todd Hultman joins us today. He’ll offer insight on the department’s stocks estimates for the old and new crop, dig into the strong demand picture for corn and the more uncertain one for soybeans, and highlight how recent flooding in Brazil, and the cross-border movement of Argentine grain, might (and might not) be impacting global stocks estimates. Then we’ll integrate the latest news about the US wheat crop and discuss where there might be room for optimism on small grains, and tackle the latest news on cattle and pork markets as we head towards the heart of the summer barbeque season. We’ll talk about the potential fallout of the slower planting pace, the weather and marketing forecast for the Black Sea region, and more.