USDA's February WASTE - I mean WASDE, held few changes from January's hullabaloo.
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One number of interest, albeit minor, was the guess on corn exports increased by 100 mb.
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At noon (ET), the US ag industry throng awaiting manna from heaven was instead given a big ol’ nothingburger from USDA. I’ll go over the numbers in the individual segments momentarily, but a quick summary tells us after crippling King Corn, and therefore the Grains sector in general last month, there wasn’t much left to do this time around the calendar. There’s also the fact it is February, and USDA is between the January hullabaloo and the second first look at new-crop production guesses at the annual Ag Forum later this month. So why give the masses anything.
