The March 31 USDA Quarterly Grains and Stocks report will be important with traders looking at usage numbers. Van Ahn and Company Chief Financial Officer Kristi Van Ahn says traders are waiting for USDA to adjust the usage. “That’s been a big question, how to justify the feed use number for corn right now. The quarterly stocks basically says we have this much corn and soybeans on hand and here’s what we’ve used.” Van Ahn says it also gives traders a look at what’s being held on-farm. “What’s on farmer’s hands or what’s in the elevator and that gives us an idea of how to justify where we stand for basis levels. There are a lot of unknowns as we look at it.”
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