USDA "kicks the can to January"
There wasn’t anything to get excited about in regard to USDA’s monthly WASDE and Crop Production reports. Though, that was to be expected, says Jerry Gulke, president of The Gulke Group.
“The good news about the report was there was no bad news, and the bad news was there was no good news,” Gulke says.
As with nearly every December report, USDA “kicks the can to January” as they wait for the January Grain Stocks report and more weather information. Gulke says he would’ve liked to have seen USDA increase demand, but they chose to sit idle until after the New Year.
Besides the bland USDA report, the Gulke Group wrapped up their Gulke Group December Conference, and the speakers have surprisingly positive outlooks for agriculture in 2017.
Listen to Jerry Gulke’s full commentary: