The corn and soybean numbers in USDA’s quarterly stocks report were lower than the trade was expecting.
Market analyst Jeff Peterson with Nebraska-based Heartland Farm Partners says one number that grabbed his attention was off-farm storage of corn.
“The off-farm came in at about 1.24 billion bushels—and when you take a look at that and you compare back to where that would have been last year, at 1.4 billion,” Peterson says.
