Well, that was boring. Click HERE for a printable recap.
There was no change to US 2023/24 S&Ds aside from a 5c reduction in the corn farm price to $4.75 and a 15-million-bushel reduction in wheat exports (plus a 5c reduction in wheat price).
World carryout numbers all fell relatively close to pre-report estimates with minor reductions in corn, beans, and wheat.
All eyes on South American production where Argentina’s corn crop was raised 1mmt to 56mmt while beans were left unchanged at 50mmt (up 100% year-on-year from last year’s disaster).
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