After some surprising Quarterly Grain Stocks and Acreage reports, the USDA flipped the script this week by making smaller adjustments in the July WASDE report than anticipated, particularly in soybeans. Allendale commodity broker Greg McBride started off with the corn numbers.
McBride said soybeans were the surprise again, except this time the USDA was more conservative.
McBride offered some insight as to why the USDA seemed to have a different mindset this week.
McBride added that the August WASDE will have a greater importance for the markets.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
