Another uneventful report this week. No flash sales, and most everything came within expectations. Allendale commodity broker Greg McBride said there weren?t really any surprises in this week?s numbers.
Recently, we?ve heard rumors that India may be banning wheat exports. While we have no idea if these rumors are true or not, the wheat markets have reacted sharply to the news. McBride said we could see some spillover in U.S. exports if those rumors turn out to be true.
Of course, high wheat prices are great for farmers to sell grain, but it could also cause food prices to shoot upwards. McBride said we?re already looking at a potential food crisis similar to the one that happened before the Great Recession.
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.
