June WASDE: A few surprises from USDA

• Corn and soy complex
  • Mostly unchanged for new crop
  • Export demand still lower for old crop
• Wheat
  • Spring wheat off to a good start!
  • USDA surprises with sizeable increase to global wheat production
• Sugar
  • Slightly more bullish outlook for old and new crops
  • 2022/23 stocks-to-use down to 13.1% on lower imports from Mexico
    • Will Mexico come up short, or will they have that sugar available? Should be an interesting July WASDE!
  • 2023/24 cane production lowered 87,000 STRV, with Texas down 56,000 STRV, pulling STU to 10.6%
• Don’t forget to register for our upcoming webinar!
  • Risk Management webinar with Shawn Bingham
  • Next Wednesday, June 14, 11 am PT / 2 pm ET
  • Check your inbox for your invite or you can also register here

Host: Michael Caughlan, President & CEO
Expert: Eric Thornton, Commodity Specialist
Expert: Kevin Combs, Vice President – Global Sweeteners Specialist