28/09/12 -- The USDA stocks numbers threw up their traditional surprise, only this time it was a bullish one for corn with Sep 1 stocks seen falling below a billion bushels which is 178 million less than the average trade guess of 1.166 billion. Corn subsequently rallied to around 20 cents higher vs last night's close having been 10 cents lower heading into the report. Soybean stocks conversely came in above the expected 132 million bushels at 169 million which was 17 million up on the highest trade estimate. Wheat production was bang in line with expectations at 2.269 billion bushels, although stocks of 2.104 billion were below the lowest trade estimate and 178 million under the average trade guess.
28/09/12 -- The USDA stocks numbers threw up their traditional surprise, only this time it was a bullish one for corn with Sep 1 stocks seen falling below a billion bushels which is 178 million less than the average trade guess of 1.166 billion. Corn subsequently rallied to around 20 cents higher vs last night's close having been 10 cents lower heading into the report. Soybean stocks conversely came in above the expected 132 million bushels at 169 million which was 17 million up on the highest trade estimate. Wheat production was bang in line with expectations at 2.269 billion bushels, although stocks of 2.104 billion were below the lowest trade estimate and 178 million under the average trade guess.
