Not much changed in this month’s USDA WASDE report. Summit Commodity Brokerage partner Tomm Pfitzenmaier points to the South America crop projections as one of the few notes of interest. “The most interesting thing about the report probably was the fact that it looks like the USDA took the month off,” said Pfitzenmaier on the mostly unchanged estimates. “I mean they literally made no changes in either the corn or the soybean balance sheet. The one thing that the trade has been watching pretty closely is what the USDA was going to do with the South American crop and they did, I think, surprise the market a little bit although the market hasn’t reacted much to it.” According to Pfitzenmaier, the focus will now shift to the end of March acreage speculations.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.