USDA Confirms Larger Grain Stocks, Markets Drop

USDA raised prior estimates of corn, wheat ending stocks.


By Mike McGinnis, Successful Farming - 1/12/2018


DES MOINES, Iowa — The stockpiles of all U.S. grains and oilseeds continue to get bigger, according to the USDA.


In its January Crop Production, Quarterly Grain Stocks, and Supply/Demand Reports Friday, the USDA pegged the supplies higher and left its estimates unchanged for the 2017 crop sizes.


As a result, the CME Group futures market reacted negatively to the USDA numbers. Following the release of the report at 11 a.m. CT, the corn market is off 1˘, soybean prices up 2˘, and wheat market 15˘.


Al Kluis, Kluis Commodities, says that the report is negative to the markets. “But not a violent reaction We will be watching now what the South American crop will do going forward. We also want to watch the funds’ activity on their short trading positions.”


U.S. Average Yield ...


U.S. Ending Stocks ...


U.S. December 1 Stocks ...


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