
Corn and soybean prices rose abruptly on June 13, but it wasn't the then-newly released World Agricultural Supply and Demand Estimates (WASDE) that triggered the price surge.
The monthly report from the U.S. Department of Agriculture (USDA) featured few changes from May's figures — just a slight increase in estimated corn exports and production, and for soybeans a slight increase in projected crush for oil. But the report's estimates likely didn't take into account news issued a few hours later that the U.S. Environmental Protection Agency (EPA) would adopt more stringent Renewable Fuel Standard (RFS), which should drive increased domestic demand for biofuels and soybean oil.
















