The USDA issued its World Agricultural Supply and Demand Estimates (WASDE) report Monday, but there was nothing in that report to move the market dramatically up or down.
âThe government decided to go on hold with yields,â explains Don Roose, president of U.S. Commodities in West Des Moines.
With drought conditions easing somewhat, the USDA figures were fairly market-neutral, Roose says. The USDA estimates for average corn and soybean prices for the next year dipped a little, from $5.70 to $5.60 for corn and from $13.70 to $13.55 for soybeans. But Roose says there was little in the report to push the market very far up or down.