A big part of the cut in U.S. corn stocks was due to a correction in the June stocks figure. “It implies larger than expected feed residual usage of corn in the June, July, August summer quarter,” said Brian Basting, market analyst, Advance Trading. market analyst Brian Basting says soybean stocks also came in below trade expectations. The carryout for the 2019-2020 crop year is projected at 523 million bushels. That’s 50 million bushels lower than expected. “The arguments for the lower than expected bean number may fall in the camp of the crop size from 2019 may still be overstated and they may tweak that down in January.”
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