This week?s U.S. Export Sales Report brings with it a mixed bag of data. Corn sales underperformed once again, but soybeans looked decent. Allendale commodity broker Greg McBride provided a breakdown of this week?s report.
Additionally, there were no flash sales this week. While it may seem like this could be due to the issues with the Mississippi River, McBride said it?s likely just a timing issue.
McBride said we shouldn?t see any changes to soybean estimates since they?re performing pretty well, but the USDA might adjust the corn numbers if these poor sales continue.
At this time of year, the U.S. grain markets generally have to deal with competition from lower prices in Brazil. However, McBride said that isn?t really the case right now, as many Brazilian farmers are holding onto their grain for the time being.
McBride also provided some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
