Source: Bob Burgdorfer, FARM FUTURES, 5/10/17


USDA on Wednesday forecast wheat production will be down 9% this year and that includes a 25% drop in the winter wheat harvest due to fewer acres, lower yields and damage from a late spring snow storm. Also on Wednesday USDA lowered 2016/2017 ending stocks for corn and soybeans a little more than expected. The wheat stocks were unchanged while the trade on average had expected an increase.

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