Markets Rise on News About Grain Stocks, Possible China Ag Buys

Oct 01, 2019 at 08:46 AM CST
The markets took off on Monday after USDA released it's latest grain stocks report and on news about China. The USDA pegs the old corn crop now at 2.11 billion bushels. That's down 1% from a year ago. An estimated 753 million bushels are estimated to be stored on farms. That's 22% higher than a year ago. Off-farm stocks are 1.36 billion bushels, down 10%. Joe Vaclavik of Standard Grain says, "That's a 300 million bushel difference in the pre-trade versus what was actually printed here. The reason for the drop is yet to be determined. It's either a lighter 2018 crop, which is the most possible thing here I think, or it was better than expected usage."

Oct 01, 2019 at 08:46 AM CST

The markets took off on Monday after USDA released it's latest grain stocks report and on news about China. The USDA pegs the old corn crop now at 2.11 billion bushels. That's down 1% from a year ago. An estimated 753 million bushels are estimated to be stored on farms. That's 22% higher than a year ago. Off-farm stocks are 1.36 billion bushels, down 10%. Joe Vaclavik of Standard Grain says, "That's a 300 million bushel difference in the pre-trade versus what was actually printed here. The reason for the drop is yet to be determined. It's either a lighter 2018 crop, which is the most possible thing here I think, or it was better than expected usage."