USDA gets more bullish — This week in the grain markets

by

Opinion

Grain markets headed into the October long weekend on a high note after the USDA published a fairly bullish October WASDE report on Friday, October 9th, 2020. In it, the UDSA dramatically lowered soybean ending stocks, which helped propel the oilseed complex higher, including canola and soybean futures getting back up to levels not seen since spring of 2018. Corn futures jumped up to a new one-year high, and while wheat futures did pull back on Friday, they did hit a five-year high earlier in then year. Going into the October WASDE, most market participants were looking at what the…

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