WASDE

Today is another interesting day for the grains with the monthly WASDE report being released.

I haven't been trading any of the grains in the last few weeks as weather has been one of the driving factors, so it will be interesting to see if that plays any role in this report.

Corn is seemingly the one that could benefit from the colder and wetter season that we've been seeing to date. Planting delays are likely to reduce corn yields and that could be potentially factored into new crop ending stocks for corn.

For Soybeans, I think all eyes will be on ending stocks for the current year. The cash basis has been quite strong recently with a significant premium to the futures, with farmers and crush plants reporting it being tough to source the physical oilseed. This might play a part in the current year ending stocks.