This is not the time of year for crazy export sales, and, once again, this week?s report reflected that. Old crop corn performed pretty well, but, otherwise, there wasn?t much to write home about. Allendale commodity broker Greg McBride noted that soybean sales weren?t too great, but this just isn?t the time of year where we would expect otherwise.
The most notable number from the report was old crop corn sales, which were very good. After the insanity we saw in the markets yesterday, this could provide a little bit of stability. However, McBride said it?s still a weather market, and there are other concerns across the marketplace- especially with soybean meal.
We often talk about the soybean crush and its impact on the soybean markets, but it can still be a bit difficult to understand. McBride provided an explanation on what the crush is and why it has such a large effect on prices.
McBride also had some advice for Iowa producers as they navigate these incredibly volatile markets.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
