USDA lowered its quarterly grain stocks estimate for corn more than the trade was expecting to 11.38 billion bushels. That’s friendly news for traders. Soybean quarterly stocks are estimated at 3.25 billion bushels, in the middle of trade expectations. Quarterly wheat stocks are estimated at 1.83 billion bushels, below the average trade guess. Quarterly grain stocks are the number of bushels on hand as of December 1, 2019.
