Corn market calling China’s bluff
By Will Robinson, Brownfield
September 10, 2021
An ag economist says a significant increase in global corn ending stocks was a surprise in a largely unsurprising USDA global supply and demand report.
USDA’s global corn ending stocks estimate was increased by 13 million metric tons.
The University of Missouri’s Ben Brown…
“Seventy-seven percent of that increase came from ending stocks in China on increased production for last year and then, also increased beginning stocks for last year,” he said.
He tells Brownfield corn futures closing higher on Friday after the increased ending stocks estimate points to the market’s distrust in China’s reported production increase...
more, including audio [19.01 min.]