WASDE

Grains were in the spotlight today after the release of this months WASDE report.

Most of the action was in new crop as it appears estimates are looking like there will be a huge crop in both grains and oilseeds.

All estimates came in above expectation for the new crop, while for old crop the results were somewhat inline with expectations.

Interestingly the weather problems we've seen in wheat haven't seemed to have taken too much of a toll in the latest set of numbers and similarly in corn, the planting delays don't appear to be a factor as yet.