Uneventful June WASDE provides little market support

by | Jun 12, 2024 | 5 Ag Stories, News

We weren’t expecting much from this month’s WASDE report, and those expectations turned out to be correct. Allendale commodity broker Greg McBride said this was a very neutral report.

However, McBride said that this neutral report does not change the issues we’ll face down the road with the ending stocks for corn and soybeans.

McBride said the optimal selling strategy for producers right now will involve taking advantage of any price rallies that occur in the markets.

Additionally, CONAB will be releasing its expectations for the South American crop tomorrow, and while we do expect to see CONAB and the USDA start to converge on their estimates, McBride said that could take a few more months to happen.

The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.