6-11-14 USDA supply/demand recap
Wednesday, June 11, 2014, 11:06 AM
Submitted by: Jon Setterdahl
Monthly supply/demand report out at 11am. Little feature to the US balance sheets….corn carry-outs left unchanged at 1.146Bln this year and 1.726Bln next year. Soybean carryout trimmed 5 to 125Mln this year (small increase to domestic crush), next year at 325Mln. There were no adjustments to acreage or yield, those are more likely in the July and August reports. World corn situation did change this year with higher carry-out due to crop size increases in Ukraine, FSU, and the EU. This, along with non-threatening US weather, doesn’t give the bulls anything to get excited about, thus corn and wheat are trading lower again with beans being pulled down slightly as well.