(NAFB) – USDA released its May World Ag Supply and Demand Estimates, predicting lower old crop corn ending stocks and that the tight soybean supplies will continue into the new 2021-2022 marketing year.

Mike Zuzolo, President of Global Commodity Analytics in Atchison, Kansas, says it looks like USDA is predicting a rebound in domestic and international soybean stocks in the new marketing year.

The corn numbers seem to indicate higher export business for the U.S. during the new marketing year.

Corn must contend with the wheat harvest to lead the markets to the upside.