The February USDA World Agricultural Supply and Demand Estimates report brought few surprises, with most major crop numbers left unchanged. The February report is typically not a big market mover. “You’re really only adjusting the demand side at this point,” said Kristi Van Ahn, market analyst, Van Ahn and Company. “Obviously, the end of March planting intentions and quarterly grain stocks are going to be a big report.” Moving forward, the trade will be monitoring soybean export shipments to determine if China ramps up U.S. purchases. “If we have a string of no sales, I do think that’s going to weigh on the soybean market.”
