E247: June WASDE Sets the Summer Stage

The June WASDE dropped Thursday, June 12, in the midst of a wild period of domestic and global news about everything from newly released biofuel commitments to the latest on the emerging conflict in the Middle East. There’s a lot to keep track of as the USDA aims to evaluate the old and new crops in the U.S. and around the world, and give producers a thoughtful look at what might come next — over a summer that meteorologists still predict will be hot and dry.To help us sort the signal from the noise, we’re joined today by DTN Lead Analyst Rhett Montgomery. Rhett takes us beat by beat through the expectations going into the report and the market moves that we’ve seen since this new data was released, providing insight on which information is proving most important to traders and analysts alike. Then he’ll walk us through the balance sheets for the major grains, helping us put USDA’s global and domestic updates into perspective and think through what the latest numbers might mean for the year ahead. Finally, we’ll take a look ahead at the weather picture for the summer, and hear what Rhett will be looking for in the next batch of USDA reports, due out June 30th.