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USDA Releases Dec WASDE Report

The USDA is still projecting corn production at 13.66 billion bushels, while soybean production is expected at 3.55 billion.
 
Tuesday's WASDE report also left yields unchanged, with the average corn yield pegged at 167 bushels per acre, with soybeans at 46.9.
 
Revised crop estimates for 2019 will likely be seen in next month's WASDE report, due to the millions of bushels of grain still unharvested.

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The 2026 Trump/Xi Summit in China was one BIG disappointment, but the USDA May Crop Report was bullish U.S. wheat. Wheat Quality Council Tour confirmed the lower wheat production from the USDA for Kansas. Could the U.S. drought travel East and North into the top “I” states from June to August of 2026? #1 U.S. pork buyer Mexico bans 10% of supplies. E15 passes through U.S. Congress but will it pass in the Senate? Higher U.S. wholesale inflation reminds us of 2020-2022. Meal futures spiking + CFTC.