[Listen] Gordy Ag Market Recap
Tuesday morning at 11:00 the USDA released the March WASE and Supply Demand Report. Traders expected small cuts in U.S. corn and soybean carryover. Instead the USDA left all the numbers unchanged and corn and soybean prices were hit pretty hard. However, buying came in under the market and prices recovered. We went back and forth but by the close Friday afternoon corn and beans remained in the ranges they have been in for weeks.
Where do we go from here? The weather for bean harvest and the second crop of corn in Brazil will be watched closely. Traders will be keeping an eye on corn export loadings to see if China actually takes all the corn they purchased. Plus, on March 31 it is the Perspective Plantings Report and the Grain Stocks Report. These reports the end of March are Typically "market movers" so get ready for more big moves in corn and soybeans!
Click on the link and listen to Gordy discuss the market action last week.