Ahead of tomorrow?s prospective plantings report, today?s export sales report was fairly mild. Corn had a decent report following last week?s excellent numbers, and soybeans were low once again. Allendale commodity broker Greg McBride provided a breakdown of this week?s U.S. Export Sales Report.
McBride said that flash sales are continuing with consistent demand, as they have now happened on 12 of the last 13 days.
Something to note is that almost all of these sales are going to China when we would also expect Mexico to be purchasing right now as well. McBride said that it makes the most sense logistically for Mexico to purchase from the U.S., so they?ll probably enter the marketplace at some point.
While these recent sales to China have been great, McBride said that corn is still behind the USDA?s expectations.
McBride also provided some advice for Iowa producers ahead of tomorrow’s report.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
