E53: May the WASDE Be With You

The May WASDE dropped Wednesday, May 12th. And though this report arrives early in the season, and so carries the uncertainty of being an early prediction, it offers valuable insight on what might be ahead for markets in the 2021 crop season.  DTN’s Todd Hultman joins us today to break down how the market is thinking about the old crop versus the new one, and whether USDA’s predictions for export and ethanol demand are in line with what we’re seeing on the ground. We’ll take a closer look at margins for weather error, how to put today’s vigorous soybean crush demand in context, what may be ahead in the wheat season, and how volatility in the wider commodities space may be impacting ag markets.