Quarterly Stock Report Pushes Corn Higher, Beans Lower
Sep 28, 2012
corn: 988 million vs 1.11 billion expected
soybeans: 169 million vs 131 million expected
wheat: 2.10 billion vs 2.28 billion expected
The big story this morning is corn stocks coming in below the 1 billion bushel mark. As you can see from the numbers above, this is 10% lower than what the trade was expecting and we now see DEC corn trading up 30 cents to 747. This has put a bid under a corn market that has looked to test $7.00 per bushel in recent weeks.