Monday’s USDA Quarterly Stock Report was viewed at friendly to the corn, soybean and winter wheat markets. Van Ahn and Company market analyst Kristi Van Ahn says there was nothing in there for wheat numbers. “You have to remember Minneapolis wheat was on a 70 cent rally in September. It had a huge month,” she says. “The big question is did they really even focus the harvest problems in the numbers? They probably didn’t for spring wheat.” Van Ahn says USDA could start adjusting acres and yields in the October 10 Supply and Demand (WASDE) report. “They took away about 300 million bushels of corn. The scary thing is for WASDE it’s not hard for them to put 300 million bushels back in when you look at the numbers they can adjust. It wouldn’t be surprising if you saw USDA start tweaking some of those numbers.”
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