It was another down week for grains and oilseeds this week – everything was lower: corn down by about USD 3 m/t, soymeal down USD 14 to 15 m/t, soybeans down by about USD 12 m/t, hard red winter wheat down by USD 14 m/t and soft red winter wheat down by about USD 10 m/t – even spring wheat was down by USD 6 m/t.
The USDA WASDE report that was issued this week was supposed to be bullish – that is what all the experts were saying --- and it was bullish for about five minutes than the bears got into the market and prices fell rapidly..................please click PDF to see more details