With the release of the May WASDE yesterday USDA provided the first supply demand estimates for the 2016/17 marketing year. Based on the USDA estimates, corn and wheat stocks will increase while soybean stocks will decline. These estimates are very preliminary and are based on acreage as of the March Prospective Plantings report. All ProExporter reports should be available on the website by the end of the week.
The analysis above is not intended as a trade recommendation. The analysis and forecasts are based on available public data and on the best judgment of PRX, but cannot be guaranteed to conform to future reality.
