The markets had a very muted reaction to today?s WASDE report. We were expecting bearish numbers, and that?s exactly what we got. Allendale commodity broker Greg McBride provided a breakdown on the numbers.
Despite these weather concerns, the USDA did not make any cuts to U.S. production. McBride said it?s very rare for any changes like that to happen in the June WASDE.
At this point, McBride said the markets have already shifted their focus back to the weather.
McBride reminded everyone that the weather market brings a ton of volatility to the markets, so producers need to keep an eye out for any sudden and massive price swings.
McBride also provided some additional advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
