A mostly neutral WASDE report left the markets feeling good to end off this week. Allendale commodity broker Greg McBride said this was the first time in a while where there were virtually no changes.
McBride also noted that the USDA decided to play it safe when it came to making cuts to Brazil.
At this point, the markets have faced so many bearish factors that a neutral report is almost slightly bullish.
McBride added that it’s difficult to predict if the USDA will make any more cuts in the future or just stay conservative.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
