The U.S. Department of Agriculture released its weekly U.S. Export Sales Report on Friday. Nothing crazy came out of this week?s report. Allendale commodity broker Greg McBride said old crop sales continue to be on the weaker side of things, but it?s not necessarily a huge cause for concern.
McBride said that the issues they?re seeing in Brazil will likely impact new crop sales instead of old crop. However, those sales are likely to take place in the December, January, or February timeframe, not right now. He said that the book isn?t necessarily closed on old crop sales at this time, but it is something worth paying attention to.
The team at Allendale can be reached 800-262-7538, or you can visit them at allendale-inc.com.
