AgResource Analysis of the USDA’s June WASDE
USDA remains sluggish in properly adjusting Indian production and exports lower. Indian production this morning was lowered 2.5 MMTs to 106. There’s little doubt final Indian production will be 99-100 MMTs. USDA also pegged Jul-Jun Indian exports at 6 MMTs despite India’s confirmed implantation of an export ban. Equally important is that USDA raised Russian…