Soybeans were the surprise in the seemingly always volatile Quarterly Grain Stocks report as soybeans saw a big jump in stocks. Wheat came in below the pre-report estimates and corn came in towards the high end of the pre-report range of estimates.
Jesse Allen talks with Arlan Suderman of StoneX about the numbers below:
Also, more details below from DTN below PLUS link to their full article and analysis:
OMAHA (DTN) — Corn stocks for the old crop were reported at 1.24 billion bushels (bb), down 36% from the same period a year ago while old-crop soybeans came in at 256 million bushels (mb), higher than analyst expectations going into the report.
The Sept. 1 stocks close out the 2020-21 crop year for both corn and beans.
According to DTN Lead Analyst Todd Hultman, Thursday’s Sept. 1 grain stocks were bearish for corn and soybeans, but bullish for wheat. Hultman pegged the wheat production estimates as slightly bullish for wheat prices.
— You can also access the full reports here: https://www.nass.usda.gov/…
READ THE FULL ARTICLE FROM DTN WITH MORE DETAILS: https://www.mydtn.com/agriculture/web/ag/news/article/2021/09/30/usda-releases-grain-stocks-small