A disappointing U.S. export sales report added to the negative tone in the markets as the ag industry waits to hear about the U.S.-China trade meeting. Allendale commodity broker Greg McBride said the corn exports continue to be behind pace for the new marketing year.
McBride said the soybean numbers were even more disappointing, but that just makes for one disappointing week in what has been a phenomenal start to the new marketing year.
McBride said the corn sales have been disappointing because the USDA has high expectations for this marketing year, so the situation could easily improve still.
With the soybean sales being so far ahead of pace, McBride said they will be fine as long as they stay somewhat consistent.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
