Despite expected record-breaking production estimates, without a big surprise, the Oct. 12 USDA WASDE report is projected to trigger relatively small market adjustments.
“I think the market is pretty well priced at this point for both corn and soybeans, and it will take a major surprise on the production front for a major move,” says Larry Shonkwiler, of Advance Trading, in Bloomington, Ill.
Don Roose, president of U.S. Commodities, holds a similar view.
“I don’t expect it to move the needle out of the range, he says. “Ho-hum.”Read the full article here.