3 PDF’s attached
Tighter old crop US soybean stocks by 30 million bushels may have already been worked into the market.
Old crop US corn stocks were a surprise with exports lowered 50 million bushels. World corn ending stocks are up 5.3 MMT.
All wheat production came in 24 million bushels above trade expectations as the trade misread an unchanged other spring and durum estimate. Winter wheat production of 1.182 million bushels were only 8 million bushels above trade expectations.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
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ICE IM: treilly1
Skype: fi.treilly
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wasde0622.pdf