USDA published the October WASDE report at 11am on Friday morning and made slight changes to the numbers that can cause a reaction in the ag markets. Allendale commodity broker Greg McBride says the report was not far off from industry expectations going into Friday, with just small changes to yield numbers.
The corn ending stocks number was lowered by USDA but not to the levels that were expected based on pre-report estimates says McBride.
McBride says the initial market reaction to the report on Friday lines up with the numbers in the report.
He says there were no major surprises in this month’s WASDE publication.
Based on Friday’s neutral report, the ag markets could quickly move on to the next topic that could cause movement in the ag marketplace says McBride.
That was Allendale commodity broker Greg McBride.
