- Today is WASDE day with USDA’s release of this month’s edition. The April WASDE is normally uneventful with South American crop production levels largely narrowed down to within a couple of MMT of the final numbers. Domestic and world demand trends have been established, and with export offers priced well out into summer, trade flow patterns can be predicted. It is in the May WASDE that USDA takes its first shot at estimated 2019/20 supply/demand balances, which will be eagerly anticipated. - China remains the wild card. If/when a trade agreement is finalized with the U.S., China may commit to buying quantities of U.S. grain and soybeans that do not logically fit into current and expected price/trade patterns. Moreover, the i...