Last Friday was the first WASDE report since the end of the government shutdown. While the markets have already from recovered from that report, there is still plenty of information that was released that the markets will continue to look at. Allendale commodity broker Greg McBride said the flash sale data from the shutdown is particularly interesting.
McBride said the flash sales show that we have not seen any big grain purchases from China yet.
In the trade deal framework from a few weeks ago, President Trump said China agreed to purchase 12 million metric tons of soybeans by the end of the year. However, McBride said China is running out of time to fulfill that commitment.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
