Feb USDA Report Analysis
Feb 08, 2013
Click play to hear our take on this morning's USDA Report
Grains are trading mixed after this morning's USDA report, at the moment we see corn up 6 1/2, soybeans off 3 1/2, and wheat up 14 cents. The USDA increased projected food and seed use by 20 million bushels, but reduced projected exports by 50 million bushels resulting in a net increase to ending stocks by 30 million bushels. Soybean crushings were raised 10 million bushels, resulting in 10 million bushels taken off US ending stocks. Wheat ending stocks came in lower than trade expectations after the USDA raised feed and residual use by 25 million bushels.