Written Commentary
Flight to Safety Supports the US Dollar
April 26, 2024
SUPPLY/DEMAND REPORT HIGHLIGHTS
- USDA lowered Argentina corn crop 7 mmt to 40.0, soybean crop 8 mmt to 33.0
- USDA continued to estimate Russia wheat at 92.0 vs est closer to 104.0
- USDA dropped US soybean carryout 15 mil bu, higher exports offset lower crush
- USDA raised US corn carryout 75 mil bu due to lower exports
- Now we trade USDA March 31 report, 2023 weather and money flow
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