Agricultural News
March USDA Supply Demand Numbers Show Little Change from February- Tom Leffler Calls Them a "Yawner"
Wed, 09 Mar 2016 15:42:02 CST
The U.S. Department of Agriculture released its March World Agriculture Supply and Demand Report and while corn and wheat came in a bit smaller than expected, there was very little change if any from February numbers.
Market Analyst Tom Leffler of Leffler Commodities says there was very little from this report to get excited about.
"The wheat and corn were lower than what the trade was looking for. But, the interesting thing was they did not change from where they were in February," Leffler said. "You have to look at it as completely neutral, there was no change what so ever in the corn and wheat. It may have been a bit of a surprise because we were looking for an increase in both those commodities.
"Soybeans were the only thing that were a little bit on the negative side. We did see it come in about ten-million bushels higher that we had last month and about eight-million higher than what the trade was looking for. The biggest change was the crush, they actually lowered the crush by about ten-million," said Leffler.
"I think you would call the report a yawner," he said. "There was nothing in there to get excited about one way or the other. Probably, the best thing was there wasn't anything overly negative out there. We might note that they did leave the estimates for Brazil and Argentina soybeans unchanged for February."
The USDA Monthly Supply Demand Numbers are available here.
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