No big shockers in USDA report

The data from Friday’s USDA report was pretty tame with no real big shockers.

U.S. supply and demand for both corn and soybeans was literally unchanged.

“They left everything the same,” Clayton Pope of Clayton Pope Commodities told The Central Illinois Farm Network.

There were some decent changes on the world stage, however. Production was lowered in both Russia and Ukraine on corn but raised slightly for wheat.

“By lowering that a little bit, I think it kind of builds on the positive technical action we’ve seen in the last couple of weeks on corn,” added Pope.

In the U.S., soybean carryout remained the same but they did drop Brazil’s production by a million metric tons. It did not drop as much as the trade thought. In spite of this, soybeans firmed up nicely as of midday Friday.