NEWS
Jerry Gulke DTN Columnist
Mon Jun 17, 2013 08:04 AM CDT

USDA's June supply and demand report was within expectations but admittedly was not as bullish as it might have been. No change in soybeans and some minor changes in wheat. Corn was a disappointment for the bulls. Grains retreated last week as a result.

FUNDAMENTALLY

USDA lowered feed usage another 125 million bushels for 2013/14, the second monthly report in a row. They left exports unchanged at 1.3 billion bushels and lowered yield a little (by 1.5 bushels per acre). Planted acres were also left unchanged, opting to wait for the June 28 stocks/acres report, which could be a blockbuster. ...

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