With the end of the old crop marketing year, this week’s export sales were a little deceiving at first glance. Allendale commodity broker Greg McBride said corn sales were good this week, but they were slightly inflated by old crop carryover.
It was a similar story with soybean sales, but McBride said soybeans are still not quite where they need to be in order to meet the USDA’s projections.
McBride said there should be strength in the soybean sales at this time of year, but this has actually been one of the worst starts to a marketing year for soybeans that we’ve seen in the past quarter century.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
