This month’s WASDE report was not as friendly as projected, but the markets still moved higher to end the week. A few factors, including the recent end of the old crop marketing year, may be influencing the markets in confusing directions. Allendale commodity broker Greg McBride said a deep dive into the report shows why the markets may have moved the way they did.
McBride said the USDA is likely factoring in the China trade situation for the soybean adjustments.
McBride also noted that the change in corn acres since June is the biggest we have ever seen, which makes today’s market movement even more confusing.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
