USDA outlook meeting previews June WASDE

The head of the USDA’s World Agricultural Outlook Board says he’s keeping a close eye on South American corn supplies and the upcoming second crop harvest.

Mark Jekanowski says, “The size of that crop is going to be critically important to potentially make up for some of those more limited supplies out of Ukraine.”

He says the USDA uses the March planting intentions acreage as a baseline, but… “If there were a real strong compelling case to move off of that, that would be considered,” Jekanowski said.

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