Episode 292: Trump in China vs. the May WASDE

The May WASDE dropped Tuesday, May 12th, offering some bullish surprises for the wheat market, and giving the whole grain complex a boost in advance of President Trump’s long-awaited trip to visit American agriculture’s most important trading partner — China. With both news and the latest report driving markets this week, we’re joined once again by DTN Lead Markets Analyst Rhett Montgomery who helps us find the signal in the noise in one the USDA’s heftier annual publications. Today, Rhett walks us down the balance sheets for the major grains, offering updates and insights on the latest new and old crop figures, and fills in the details on how these updates are shifting world stocks as well. After he gives an update on the basis picture, we’ll also hear what he’s on the lookout for from the Trump-Xi meeting, from the fallout from the ongoing conflict in the Persian Gulf, and from weather outlooks across the Americas. Finally, he’ll flag current trends to watch that might indicate unusual opportunities, and growing risks, being created by speculators in the grain markets.