The September USDA Quarterly Grain Stocks report may have traders gun-shy going into the October Supply and Demand report. “You know there will be surprises from the USDA, but you’d like the surprises to add up so it makes sense,” said Darrell Holaday, market analyst, Country Futures. “This really doesn’t make sense. Analysts are thinking, who knows what will be in the October report?” A choppy grain trade is expected going into the report. “I think the USDA overstated the 2019 corn crop and they’ve never got it right. There’s some ridiculous feed use number that doesn’t make sense.”
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