There wasn?t anything extravagant in the first export sales report of 2023. Corn was slightly bearish to neutral, while soybeans had a somewhat favorable report. Allendale commodity broker Greg McBride provided an analysis of the latest U.S. Export Sales Report.
McBride said there were some flash sales this morning, but there are concerns over the price of U.S. corn compared to Brazil.
Corn exports are significantly behind pace still. McBride said the next WASDE could see some cuts to the USDA?s export projections.
While corn will likely see some negative news in next week?s WASDE, McBride said that won?t be the case for soybeans since they are actually exceeding the USDA?s goals.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
