AUDIO: Brian Grossman, Zaner Ag Hedge
The USDA World Agriculture Supply and Demand along with the annual crop production report usually sparks volatility in the grain markets. A Market strategist gives his take.
Brian Grossman is a market strategist with Zaner Ag Hedge in Chicago. He says Friday?s report had a few surprises.
?Specifically, on the corn number, the USDA raised the corn yield up to a record 176.6 above last year?s record. Unfortunately, that was kind of a surprise. Against most expectations, they did not lower the corn export figure so that kept ending stocks on the U.S. side at a 2.477 billion-bushel carryout,? Grossman says.
Soybeans got a bullish report.
?The average trade was looking for the yield to come down a bit. That leaves U.S. ending stocks a bit higher at 470 million due to some reductions in demand,? Grossman says.
Grossman says continue to see the grain markets react to the report this week.
Read the WASDE and Annual Crop Production.
