Market moves on grains report
The USDA’s grain stocks report shook markets last week as the federal agency now estimates significantly smaller corn and soybeans supplies left over going into 2021.
After the report, the CME price for December corn surged more than 20 cents per bushel, while November soybeans jumped about 40 cents per bushel.
In Iowa, corn stored in all positions as of Sept. 1 totaled 388 million bushels, down 4% from the same date a year earlier. Soybean stocks totaled 102 million bushels, representing a 36% decline from the ...
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