The USDA says corn, soybean, and wheat demand was better than expected last quarter.
On September 1st, old crop corn stocks were 1.995 billion bushels, 10% less than a year ago, when most analysts were expecting a slight increase. On farm stocks of 750.8 million bushels were down 8% and off farm stocks were 1.244 billion bushels declined by 12%. The indicated disappearance for the fourth quarter of the 2019/20 marketing year was 3.02 billion bushels, compared to 2.98 billion during June through August of the 2018/19 marketing year.
