USDA Report Reactions
Jan 11, 2013
We just got the January WASDE report and at the moment see corn and wheat moving higher as beans trade lower. Corn ending stock fell 45 million bushels largely driven by a 300 million bushel increase to feed/residual. Soybeans ending stocks were raised 5 million bushels, roughly in line with trade expectations. One thing to note is that crushings were raised while the USDA left export sales unchanged once again. Wheat ending stocks were off 38 million bushels due to feed and residual getting raised by 35 million bushels. Tune in to the audio commentary for the full breakdown of the numbers, and tune in to GrainTV this afternoon for our take on how this changes the grain market.
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