Late on Wednesday afternoon this week, the United States Department of Agriculture (USDA) published its quarterly US grains Productions and Stocks Report and final 2020 US wheat production estimates. This is a quarterly report which often passes without much attention. Yet, the results of this report triggered a significant price rally for the world's grain and oilseeds markets. Supportive data was perhaps expected but not to the extent revealed.
You can also listen to the Frontrunner podcast - press play to hear the latest report. The report is read this week by farm trader, Lottie Bauer.