A lot of the buzz yesterday was focused on the February WASDE, but we saw the release of the weekly export sales as well. Now, the report didn’t contain any real market movers, but it’s still important to keep an eye on the export situation. Allendale commodity broker Greg McBride gave an analysis of the numbers.
McBride said there are concerns about the flash sale situation, as we haven’t been seeing too many new sales- instead, we’ve just seen a lot of previously unknown sales get assigned to countries.
McBride added that U.S. corn is still at a discount to Brazilian corn, but Brazil still holds the advantage when it comes to soybeans.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.