With the cuts the USDA made in last month’s WASDE, analysts were expecting a few more in the January report. However, the grain markets were very disappointed when the report came out and showed very few changes. Allendale commodity broker Greg McBride broke down the numbers from today’s WASDE.
The markets initially went sharply lower, but they did bounce back up a bit once the market closed.
From here on out, McBride said the only changes we might see would be to the South American crop.
McBride also gave some ideas of where the markets might bounce back to once they fully process the report.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
