- USDA released its July supply and demand guesses Wednesday, completed with the expected decrease in old-crop corn exports and increase in US planted corn acres.
- On the soybean side, the big news was a small cut to old-crop exports and a substantial decrease in the new-crop export estimate.
- Reading between the lines, the trade war between the US and China is not expected to improve over the next 14 months.
I was asked my opinion about the July round of USDA supply and demand estimates, and those of you who have followed me over the years won’t be surprised by my response. In fact, I can sum it up in one sentence:
