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In this episode host Casey Seymour of Moving Iron LLC talks with Chip Nellinger of Blue Reef AgriMarketing.
The two discuss August’s World Agriculture Supply and Demand Estimates (WASDE) report from USDA and how the market response had some scratching their heads.
“We had Thursday's report come out and it should have been the most bullish thing on the planet, but it's almost like the traders were looking at it saying. ‘Well, we got these crop tours and, you know, I live in Chicago and right around here, it looks so great. So, I guess we're going to wait and see what happens September,” Seymour comments.
Looking ahead, Nellinger believes the October crop report this year “is going to be a big one,” so a lot could still shift in terms of prices.
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