This week?s report was surprisingly good. Both corn and soybeans had the best sales they?ve seen in many weeks. Even though there?s not as much focus on the old crop sales right now, Allendale commodity broker Greg McBride said they saw some really nice numbers.
As we approach the end of the marketing year, things are going to change in the export markets. McBride said this is usually the time of year where we start to see export trends shift.
Many people are looking forward to next month?s WASDE report already, but McBride said we should have the more accurate numbers in front of us already.
At this point, we want the weather to cooperate and support the current crop, and that drives the market prices down. However, that means that it?s tough for farmers to sell whatever they have left in their bins. McBride said the conditions at this time of year are always a double-edged sword.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
