Your Pro Farmer newsletter (May 11, 2024) is now available

USDA’s May crop reports provided some key new data via the initial look at the 2024-25 balance sheets and USDA’s first winter wheat production estimates, both of which we cover extensively, along with changes to the old-crop supply/demand tables. There are a lot of weather/crop happenings for traders to monitor, with flooding in far southern Brazil, along with corn stunt disease and some frost damage in parts of Argentina. Russia also experienced killing frost/freezes in early May, which will trim grain production. In the U.S., recent rains caused the corn planting pace to fall behind average for the first time this year. While delays aren’t severe, it was another slow week of planting progress as more rains fell across the Corn Belt. The bump in soil moisture may be needed as the transition to La Nina will likely occur by summer or early fall, suggesting it could be a warmer and drier finish to the growing season. We cover all of these items and much more in this week’s newsletter, which you can download here.