Keep Watch on May USDA Report, Spring Wheat Weather Market

April 28, 2017 03:44 PM
 
SoybeanMorning

In May, the USDA will be releasing its Supply and Demand report, Brian Splitt of Allendale advises producers to keep a watchful eye of what’s going to happen because it will be the first new crop estimate.

“That information could cause another letdown in the soybean market, potentially testing $9,” said Splitt. “If that’s going to bother you, have coverage.”

Tommy Grisafi of Advance Trading, Inc. thinks a weather market is currently happening with spring wheat in the Dakotas.

“We’re going at record low spring wheat acres,” said Grisafi. “Watch that people abandon more of those acres and switch it to corn or beans.”

Watch Grisafi and Splitt this weekend on U.S. Farm Report.

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