On Wednesday, May 12, the USDA issued an updated World Agricultural Supply and Demand Estimate (WASDE) report. The report showed support for a continuation of strong price support levels for corn and soybean due to strong global demand and reduced production in South America. The report did not indicate much unfavorable for crops planted in the U.S. but did reflect acreage shifts among commodities due to market conditions.
More below:
https://www.usda.gov/oce/commodity/wasde/wasde0521.pdf
https://www.usda.gov/sites/default/files/documents/may-2021-wasde-lockup-briefing.pdf
https://www.usda.gov/sites/default/files/documents/wwcb.pdf
WASDE Cotton: Domestic Production Rises, Supplies at 5 Year Low
WASDE Oilseeds: Lower U.S. Soybean Exports, Higher Crush, Ending Stocks
WADE Rice: Reduced Domestic Use, Exports, Stocks
WASDE Coarse Grains: Greater Production, Domestic Use, Lower Exports
WASDE Wheat: Higher Domestic Use, Lower Exports, Increased Stocks