6/13/2025 8:00 am

USDA essentially “punted” on this month’s WASDE report for corn, as well as across the board for all intents and purposes, only revising U.S. corn exports up by 50 million bushels, the minimum we felt the needed to this month, while obviously taking a wait-and-see attitude until after the June 30 Grain Stocks report which could/should indicate lower 2024/25 feed/residual usage than the USDA’s current 5.750 billion bushel estimate, then allowing USDA to further raise old crop exports as needed in the July WASDE without shocking the balance sheet. 

 6/12/2025