Even with the lower expectations for this week’s report, the numbers were still pretty disappointing. Pressure from other countries is likely weighing in on our exports. Allendale commodity broker Greg McBride broke down the numbers from this week’s U.S. Export Sales Report.
McBride said there were also some flash sales for corn.
At this time of year, we expect better sales numbers. However, McBride said this week’s report continues the trend of lower sales that we’ve been seeing recently.
If we had a crystal ball that could tell us exactly what the markets will look like, then you bet we’d be using it. Unfortunately, since we have to keep guessing what the markets will do, we’re not sure how long these lower export sales will stick around. McBride said it could take a while for these numbers to pick up again.
The lower export sales can be a bit concerning, especially with the current state of the global economy. McBride provided some advice for Iowa producers who are keeping track of the situation.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.