This week’s report was pretty ho-hum once again. Net corn exports were at a marketing-year low, but soybeans saw decent sales for this time of year. Allendale commodity broker Greg McBride said beans were surprising since sales usually shift to South America at this time of year.
While things could definitely be better, the consistent sales, especially for soybeans, are good to see. McBride said we should hit the USDA’s goal if these sales continue, but there’s still some concerns for corn.
With South America’s underperforming soybean crop, this year could shape to be a great one for soybean exports. At this point, McBride said we need to see some good rains in order to get some good pod fill for our soybeans.
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.