No real changes to the old crop numbers in this month’s WASDE report, but, as expected, there were bearish changes to the new crop numbers. But these changes were even more bearish than expected, especially in the soybeans. Much of this can be attributed to a lack in global demand. Allendale commodity broker Greg McBride provided a breakdown of the September WASDE report.
As the first WASDE report of the new marketing year, the September WASDE usually carries a good amount of weight into the marketplace. McBride said this report was especially heavy since we were looking for lower yields.
McBride added that this is the time of year where we usually put in the harvest lows as well.
With potential lows being put in, McBride offered some advice for producers who want to position themselves well in the marketplace.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
