Corn was the most bearish surprise, observed Brian Basting of Advance Trading, Bloomington, Ill., and the commentator on a post-report MGEX press call. The soybean rally underscores the export demand, he explained. Even the stronger dollar and Brexit situation are not expected to exert any downw
Balance sheets for the three major crops underscored ample U.S. and globalsupplies, and Brian Basting of Advance Trading broke down the numbers in ateleconference hosted by Minneapolis Grain Exchange.
Brian Basting, with Advance Trading, had thought the U.S. would be in a position to make more export sales, but now says the U.S. is likely to remain a residual supplier. He was somewhat surprised to see USDA raise its forecast for exports from the FSU 12 by 3 million metric tons (mmt).