July WASDE: No fireworks but markets still excited

Corn & soy complex U.S. corn ending stocks growing tighter for 2026/27 Less carry-in, more production, and more exports for U.S. soybeans Soybean oil balance sheet unchanged but external factors carrying more weight with prices Wheat U.S. wheat ending stocks decline further by 22 million bushels Wheat crop in the U.S. projected smallest since 1970 at 1.536 million bushels Thankfully, weaker U.S. demand is keeping stocks-to-use ratio declines in check Sugar Beet forecasts lower due to crop development and weather concerns Mexico’s baseline imports set Food deliveries set little higher than expected Host: Michael Caughlan, President & CEO Expert: Eric Thornton, Vice President Expert: Nicole Thomas, Vice President – Information Services