Today?s WASDE report gave us our first look at the new crop balance sheet. While analysts were expecting a bearish report, it somehow managed to still undercut them. Allendale commodity broker Greg McBride provided a breakdown of this month?s report.
McBride said there were minor changes to the USDA?s export expectations because they are likely waiting to make bigger cuts later on.
Looking ahead to the rest of the growing season, McBride said there?s not going to be a magical bullishness to these numbers, so it would be a good idea to take advantage of price rallies as they happen.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
