This week?s report was mostly neutral again. Corn numbers are looking better, but it?s still not enough to change the overall outlook. Allendale commodity broker Greg McBride provided a breakdown of this week?s U.S. Export Sales Report.
McBride said they were expecting to see flash sales to China once they got back from the lunar holiday, but, so far, we haven?t seen anything from them.
At this point, Brazil is China?s primary source for grain, so McBride said that mostly explains the lack of sales from the U.S. to China.
Even if corn numbers were to drastically improve, we?d still miss the USDA?s export expectations, so McBride said we?ll likely see several cuts to those export numbers in the coming months.
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.
