Grains Unfazed By USDA Numbers

World corn stocks were lowered from 296.4 million tonnes to 295.3. Argentina’s crop was lowered another 5 mt to 47. This was under the trade estimate of 48.5. USDA now sees the crop -15% from their original staring estimate of 55. Other estimates are 44.5 mt from the Buenos Aires Grains Exchange and the newly lowered 42.5 from the Rosario Grains Exchange. Brazil’s crop was left unchanged at 125.0.

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