E56: Small Surprises in the June WASDE

The June WASDE dropped Thursday, June 10th, representing an early season report without many changes from the May version.  Nevertheless, DTN’s Todd Hultman joins us today to break down the surprises we saw in supply and demand, and what may have prompted USDA’s update for stocks. We’ll take a closer look at the slightly weakening soybean basis, at what continued dryness means for wheat, and about how Latin American weather patterns will continue to influence prices for all the major grains. Then we’ll talk about international COVID news and what might be ahead in terms of economic recovery.