After not getting a WASDE report in October due to the government shutdown, the USDA announced that there will be a WASDE report this month regardless of whether or not the shutdown has ended. This has the commodity markets very excited, as there has not been much news to react to without any government reports. Allendale commodity broker Greg McBride said there will be important updates to yield and production numbers.
Since this year’s yields have been mostly disappointing compared to the previous estimates, McBride said there will be a lot of conversation about where those numbers should be now.
McBride said the current export situation creates several problems for the markets as well.
All in all, McBride said it’s anybody’s guess as to what the numbers will look like since it has been so long since the last WASDE report.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
