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Few surprises expected in USDA June supply and demand report

An ag economist with University of Missouri Extension says he’s expecting an uneventful supply and demand report from the USDA, with limited changes to U.S. demand.

Ben Brown says the USDA has been trimming soybean export expectations due to sluggish sales.

“However, I think the market has already baked that in.”

He tells Brownfield ethanol has been a strong market for U.S. corn, but production probably isn’t enough to meet earlier demand projections.

“Could we see some of that coming out of the old crop balance sheets? Maybe, but again, I think the market’s already kind of baked into that.”

Brown says it’s too early for USDA to make major production changes, and he expects the agency to maintain trendline yields from the May report.

The USDA’s June supply and demand report will be released Thursday at noon eastern, 11 a.m. central.