Very low soybean exports provided a bearish tone to an otherwise unremarkable report. Allendale commodity broker Greg McBride provided an analysis of the latest U.S. export sales.
While this had a slight impact on the lower prices today, McBride said the Fed’s decision to not change rates yesterday is what’s causing most of the negativity today.
There were also some flash sales of grain to Mexico, which is mostly a continuation of their plan to import grains now before the impending GMO corn ban.
Even though the situation isn’t as dire for corn, both major U.S. grains are running behind the yearly average on exports.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.