E227: Ringing in the New Year with a Bullish January WASDE

The January WASDE dropped Friday January 10th, and this blockbuster report left producers, traders, and analysts alike scrambling to respond to major drops in production estimates for corn and soybeans. This news came alongside a quarterly stocks report and a wheat seedings report, which meant there was a ton of new information to process from USDA on the state of U.S. grains.This week, we’re joined once again by DTN Lead Analyst Rhett Montgomery, who helps us tackle each of the reports and takes us beat by beat through the changes that surprised market watchers so effectively. We’ll walk down the corn and soybean balance sheets, updating everything from planted acres to yield to bring a slightly smaller crop than expected into focus for both these top products. We’ll take a closer look at the demand picture as well, understanding where USDA thinks grains might end up, and how these expectations fit into a global trade picture that could change rapidly in the next few weeks due to the political transition in the U.S. Then we’ll tackle the wheat crop, with the latest numbers on seeding as well as domestic and global stocks, we’ll hear what to expect as the crop emerges from dormancy.