AgResource Analysis of the May WASDE Report
The USDA’s US corn data is viewed as bearish relative to expectations. This is due to the USDA keeping Brazilian corn production above 100 MMTs in 2020/21 and projecting 21/22 Brazilian production at 118 MMTs. This allowed WASDE to place new crop US exports at 2,450 Mil Bu – 200 Mil below the February World…