Corn
In today’s report, ending stocks were unchanged at 801 million bushels and a 6.3% stock to use ratio. Based on the March 1 stocks, the trade was disappointed as the expectation was projected ending stocks of 717 million bushels. The season average price is projected to range from $6.00 to $6.40 a bushel, narrowed 10 cents on both ends. Global corn stocks decreased 72 million bushels from last month to 4.831 billion bushels on lower beginning stocks, unchanged production, and lower feed use. Continue reading