WASDE Report Sends Grain Prices Soaring Amid Global Tensions

The August WASDE report released by the U.S. government had a significant impact on grain prices, driving them higher according to market analysts.

Allendale commodity broker Greg McBride noted that the corn side of the report showed lower yields, increased acreage, and decreased ending stocks.

This could potentially support corn markets, but McBride cautioned that they will need additional help from either wheat or soybeans markets to climb higher.

The soybean side of the report was less positive, with only a couple of bright spots. Chinese soybean purchases were seen as a good sign, but did not have a significant impact on the balance sheet since they are expected to happen anyway.