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USDA's Grain Stocks Report provided bullish surprises

The smaller inventories left from the 2019-crop increases the importance of strong output and early yield reports suggest no major downward revisions this month. Old-crop corn stocks at the end of the 2019-20 marketing year were down 10.2% from year-ago and 255 million bu. below the average pre-report trade estimate. USDA also slashed its June 1 stocks figure by 205 million bu. from its prior estimate. Read complete analysis here.

As the market now turns its focus to harvest weather and early results, Pro Farmer will keep you up-to-date on all of the factors and issues impacting market prices. Stay ahead of the trends with a Pro Farmer trial.

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