Despite an exciting day in the grain markets, export sales were very mild this week. Allendale commodity broker Greg McBride said corn and beans came within estimates.
Corn sales are only slightly behind the 5-year average, but McBride said beans are far enough behind now that they are going to end the marketing year that way.
While we can’t predict when it will happen, McBride said the USDA will have to make slight changes to the corn ending stocks before August.
Bean ending stocks are also projected to miss by about the same amount as corn physically, but McBride said that’s much bigger for soybeans since the total crop is smaller.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
