This week’s export sales were surprisingly bullish, especially when compared to other recent reports. Corn, wheat, and soybean meal numbers all came in above expectations. Allendale commodity broker Greg McBride provided a breakdown of this week’s U.S. Export Sales Report.
McBride said there were also some decently strong export sales this morning.
The recent drop to soybean expectations was surprising, as the recent strength in the market would have to fall of considerably to miss that goal. McBride said the USDA normally waits a while before making cuts like that, but things like this do happen sometimes. He added that we’ll likely see them adjust that number back in the coming months.
McBride also provided some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.