News
No big surprises in USDA report, markets trading weather
A commodities economist says there weren’t many surprises in the October USDA report.
USDA raised U.S. corn production and lowered U.S. soybean production slightly and Arlan Suderman with StoneX Group says there’s not much to update on U.S. ending stocks.
“We’re amply supplied with grain and oilseeds in the United States and I think the grain markets have factored that in,” says Suderman. “I think the next focus for the markets will be finding a home for all of these big crops, both corn and soybeans.”
Suderman says once grain and oilseeds find a home, demand becomes a focus.
“Right now I see better opportunities, not guarantees, but better opportunities for demand to improve down the road for corn and wheat than I do for soybeans.”
He says the grain markets are back to watching the U.S. and South America weather outlook.
“We could be vulnerable to lower prices down the road unless we see weather dramatically change the picture.”
Read more about the October USDA report.
