The USDA released its July World Agricultural Supply and Demand Estimate report on Friday. Global Commodity Analytics and Consulting President Mike Zuzolo says there was nothing bearish in the report. “The biggest thing that jumped out at me was that world corn ending stocks went from 338 million tons to 315 million tons in one month for 2021,” says Zuzolo. “The average trade guess was 325 million tons. We didn’t go below the lowest trade guess, but we were 10 million tons below the average trade guess.” View the full report.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.