Despite expectations of a fairly quiet Quarterly Grain Stocks Report, the USDA found ways to surprise the markets once again. Allendale commodity broker Nathan David said high bean ending stocks were the biggest shocker from today.
These prices are still decently off of the harvest lows, and David said this next week could help alleviate some market pressure.
Prior to this report, the markets were anxious to react to some news, but even with that added pressure, David said this was an appropriate reaction to the report.
David 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.
