While the markets reacted positively, the May WASDE report wasn’t exactly bullish. In the case of corn, Allendale commodity broker Greg McBride said the numbers just weren’t bearish.
McBride said things were more obviously bearish on the soybean side of the report.
Another surprise in this month’s report was the lack of significant change to the South American crop, even though we keep hearing more and more about damage in both Brazil and Argentina.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
