E243: New Crop Madness in the May WASDE

The May WASDE dropped Monday, May 5th, and the market reacted to both predicted records and to a few unexpected surprises. Given the number of acres and the USDA’s trendline yield, the department is officially estimating a record breaking corn crop in 2025– at least at this early moment in the season. To help us understand the latest, we’re joined once again by DTN’s Lead Analyst Rhett Montgomery, who puts both old crop updates and new crop estimates into perspective as we take in the first look that spans from the 2024-25 season into 25-26. Rhett reminds us that these forward looking estimates still contain substantial uncertainty, especially on the global balance sheet, but that doesn’t stop markets from reacting. In addition to analysis on new production and planting figures, we’ll hear the latest basis news, updates on trade and usage for the major grains, and tackle bearish and bullish shifts throughout the market. Plus, we’ll hear what Rhett will be paying attention to as planting comes to a close.