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Balanced Reporting. Trusted Insights.
Tuesday, May 24, 2022
A flurry of Department of Agriculture reports Wednesday showed bin-busting production of corn, sorghum, soybeans and cotton took place in 2021, largely matching what traders were expecting to see.
Tuesday’s release of the World Agriculture Supply and Demand Estimates report did little to shake up commodity markets as the figures in it were largely unchanged from the previous month’s estimates.
Corn futures contracts ended the day sharply lower after Department of Agriculture officials raised 2019/2020 corn yield estimates while lowering soybean yield estimates in the World Agricultural Supply and Demand report Thursday.
As trade disputes eroded major markets for American soybeans, U.S. producers grew more of the crop than ever befor e,according to Department of Agriculture data released Friday.