The January WASDE dropped Friday, January 12th, offering further confirmation of 2023’s record corn crop and adding bearish pressure to the commodity markets overall as the US stock picture across the board looks healthier than many expected.
DTN’s Lead Markets Analyst Todd Hultman joins us today to offer his insight on not only the January WASDE, but also other key announcements from USDA, including the December 1st Grain Stocks report and the Winter Wheat Seedings update. We’ll dive deep into the latest numbers that are driving US markets, and look abroad to the condition of Latin America’s developing corn and soybean crop to better understand what the first months of 2024 might have in store. We’ll tackle the demand picture, dig into the evolving role of weather in US grain markets, and think critically about how global pressures, from Russian geopolitical maneuvering to low water levels in the Panama Canal, are creating new signals for farmers on what to plant for the coming crop.
We’ll talk cattle and hog markets, the latest headlines out of China and the Middle East, and update some predictions on the year ahead.