There’s an old saying that says March comes in like a lion and goes out like a lamb. With today bringing two major USDA reports, it was looking like the month might end more like a lion instead. However, that wasn’t necessarily the case, as both the Quarterly Grain Stocks and Planting Intentions reports came in mostly within expectations. Allendale commodity broker Greg McBride said that was especially true on the grain stocks.
McBride said those numbers will be updated further in the coming April WASDE report.
McBride said the Planting Intentions were also fairly predictable, with an increase to the corn acres and a decrease to the soybean acres.
The numbers from the Planting Intentions report will be more of a guideline when we get around to the May WASDE, as that will contain our first real look at what farmers are actually planting.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
