E210: First Look in the Field with September WASDE

The September WASDE dropped Thursday September 12th, and though it didn’t too much to stir markets, it provided another data point as potentially record crops are in the final stretch before harvest. USDA’s latest report was informed by in-field data which added a new on-the-ground perspective, but there’s still plenty of time for weather-related disruptions, especially with storms like Francine reminding the industry that hurricane season is not over. DTN’s Lead Markets Analyst Todd Hultman joins us today to dig into the latest market conditions, offer his expectations going into and coming out of this report, and to discuss shifting demand and basis numbers as we move towards seasonal lows across major sectors. We’ll talk about the updated export picture for both corn and soybeans, and discuss how the global wheat crop is looking after a tough year in Europe. Then we’ll take a look at the livestock market with updates on current prices and USDA forecasts about herd growth in the next twelve months. And finally, we’ll talk interest rate declines and inflation, continuing weather wild cards, and the confidence we can have in this report’s numbers.