E235: Quiet March WASDE Riles Jumpy Markets

The March WASDE dropped Tuesday, March 11th, and bullish farmers and traders looking to see upside for corn and possibly soybeans too were disappointed the USDA held pat across the two major U.S. grain balance sheets. Wheat, on the other hand, which was expected to go unchanged, overshot expectations in a bearish direction, but markets on the day ended up. Go figure.

Luckily, we’re joined once again this week by DTN’s Lead Markets Analyst Rhett Montgomery, who will not only take us beat by beat through the latest numbers, but also help us understand why the numbers did and didn’t shift, and why we might expect greater changes this month, even when they didn’t arrive in March. As we zoom in on the domestic and global balance sheets, Rhett explains how a near final weather outlook for the Latin American crop season is changing USDA, and the market’s, perspective on stocks, and how updates to wheat numbers out of the black sea region may, and may not, create more opportunity for U.S. wheat growers in 2025. 

Then, Rhett talks tariffs, recession, and how to follow markets and news during an uncertain planting season.