It seems like the USDA didn?t want us to coast into this weekend. If you?ve looked at the current grain prices, then you?ll know that there were some big surprises in today?s Quarterly Grain Stocks and Acreage reports. Allendale commodity broker Greg McBride said the quarterly stocks were surprisingly friendly.
If that doesn?t seem like convincing enough news for the market reaction, just listen to the acreage numbers. McBride said the acreage report was almost completely different from what they were expecting.
McBride said that the smaller grain markets may offer an explanation as to why we saw these surprising changes.
Moving forward, McBride said it?s important to really take a look at what these numbers imply for this year?s crop.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
