The grain markets were positioned to react to basically anything that came out of today’s Quarterly Grain Stocks and Acreage Report, so when the friendly numbers came in, the prices jumped upwards and held those gains through the end of the day. Allendale commodity broker Greg McBride said the grain stocks were better than expected.
McBride said a lot of the excitement in the grains came from the acreage side of the report.
While this report was a nice jolt for the markets, McBride said it’s not going to cause prices to soar high above the regular levels.
McBride added that there were a couple of more hidden factors that likely lead to the heightened reaction from the markets today.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
