As expected, the USDA made very minor changes to the numbers in the March WASDE report. The U.S. ending stocks were left alone, and the crop production estimates for Brazil and Argentina were slightly adjusted. Allendale commodity broker Greg McBride said it was a very neutral report overall.
Since there are usually low expectations for the March WASDE report, McBride said global news- like the conflict in Iran- will continue to affect the ag marketplace the most until we get to the Quarterly Grain Stocks and Prospective Planting reports at the end of this month.
When it comes to those reports, McBride said they are expecting to see increases to soybean acres and decreases to corn acres.
Any changes to the corn acres could be impacted by fertilizer price increases from the conflict in Iran, but McBride said he anticipates that to be more of an issue for 2027.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
