Sep 30, 2021

The USDA surprised the market today with increases in the ending stocks for the 2020/2021 corn and soybean crops.  Last year's soybean acres, yield, and production were all increased resulting in an 81 million bushel increase to the ending stocks.  Corn acres, yield, and production all decreased but a cut in feed/residual use resulted in a 50 million bushel increase to the ending stock number.  Wheat ending stocks were friendly with most figures coming in below estimates and helped cap losses in corn and soybeans for the day.

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