By Doug Tenney, Leist Mercantile
Corn stocks were less than expected. Corn production was below trade estimates.
Plenty of changes were expected with this USDA report. The January USDA report today has been called one of the most important USDA report days for the entire year. This report details final U.S. corn and soybean for 2020. In addition, quarterly U.S. grains stocks were released. U.S. corn and soybean demand was expected to increase. South America corn and soybean production changes were expected for both Brazil and Argentina.
U.S. corn and soybean ending stocks along with South America corn and soybean production were the main features with this report. World grain ending stocks were closely watched as well.
Corn ending stocks were 1.502 billion bushels, last month was 1.702 billion bushels. Soybean ending stocks were 140 million bushels, last month was 175 million bushels. Wheat ending stocks were 836 million bushels, last month at 862 million bushels.… Continue readingRead More »