Going into this month’s WASDE report, there wasn’t a lot of volatility in the grain markets. However, after today’s friendly numbers came in, the markets reacted accordingly, with soybeans leading the way up. Allendale commodity broker Greg McBride said it’s nice to see a positive report, especially since it feels like many of the recent reports have been negative.
While this month’s report was friendly, McBride said the long-term outlook isn’t nearly as positive.
Moving ahead, McBride said there are several worldwide factors, like wars and especially the huge crop in Brazil, that may limit the markets.
McBride also provided some advice and key takeaways for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
