Today?s report actually provided some good numbers for the markets to react to. We likely won?t see anything monumental as we approach the end of the year, but we?ll gladly take positive export sales. Allendale commodity broker Greg McBride provided an analysis of the numbers from this week?s U.S. Export Sales Report.
McBride said the flash sale purchases from China also continued strongly into this week.
Recently, we also learned that Mexico has put off its ban on imports of GMO corn until 2025. This creates an interesting situation for the markets to react to, as there are worries about demand of U.S. corn. McBride said we could potentially see Mexico increase their purchases of U.S. corn over the next two years in order to build up a stockpile before the ban takes effect.
McBride said this is the time for stronger export sales anyways, and while soybeans are performing well, the corn numbers need to start to pick up.
McBride also provided some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
