After a bullish WASDE report last week, this week’s export sales report was extremely neutral. Allendale commodity broker Greg McBride said both corn and soybeans came within expectations this week.
There have been a lot of sales cancellations from China lately with several countries, including the U.S.
McBride said that the discount of Brazil grains is what is keeping some of those Chinese purchases away from the U.S.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
