This week’s export sales were very even keeled. This is great for the soybeans, which have been underperforming, but is not as good for corn, which had been more towards the other end of the spectrum. Allendale commodity broker Greg McBride gave an update on the latest numbers.
Some flash sales were reported this week, but McBride said they’re actually just the result of some unknown sales being confirmed for China.
While soybean and corn carryout are both projected to be lower by roughly the same amount, McBride said that number is much more impactful on soybeans since it’s a larger percentage of the total crop.
McBride added that U.S. corn still holds a price advantage over Brazil, and soybeans are continuing to close the gap.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
