E48: April WASDE Brings May Questions

The April WASDE dropped Friday, April 9th. As usual, it was a relatively ho-hum report, but the market environment it was delivered into is anything but. DTN’s Todd Hultman joins us today to break down what the market was actually responding to (a clue: it wasn’t the report) and to speak more to what might be ahead from international markets beyond China. We’ll take a closer look specifically at how tight grain supplies could get mid-season, how to put today’s record basis in context, how to think about weather as the wheat season draws to a close, and how a big post-COVID summer might affect agriculture.