Last week, the USDA released its December WASDE report with no real changed to U.S. crop estimates. However, world production numbers slightly increased.
On AgDay Monday, Bob Utterback of Utterback Marketing told host Clinton Griffiths the report was “a yawn.”
“It was initially a little bearish,” said Utterback. “There was nothing really bullish about it, but the market took it with a grain of salt.
In terms of the domestic market, Utterback believes the market is worried about cold weather in the week ahead, as well as a transportation bottleneck.
Listen to Utterback discuss what to watch for in grains on AgDay above.