May WASDE, A North Dakota View and Weather

May 09, 2023

Here are the Top 5 things the DTN Newsroom is tracking for the week of May 7. Watch for coverage of these and other topics throughout the week on our subscription platforms as well as on DTNPF.com.

1. May Grains Report, WASDE on Friday: The latest World Agricultural Supply and Demand (WASDE) report drops at 11 a.m. CDT. This is the month when USDA shifts crop years, so there is typically a bit of adjusting to production numbers. DTN Lead Analyst Todd Hultman will have a report preview ahead of the actual report; he will hold an hour-long webinar discussing the report's effect on markets at 12:30 CDT on Friday. To register for the webinar, go here: https://www.dtn.com/….

2. Global water issues: Farm leaders from around the world are gathering in Lincoln, Nebraska for the 2023 Water For Food Global Conference. We'll cover the event which tackles issues around the ongoing conflict between urban and rural/farm uses of water, and the challenges brought on by climate change, soil degradation, water access and economic disparity.

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Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.