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Economists call USDA’s corn stocks estimate a “huge bullish surprise”

Economists call USDA’s corn stocks estimate a “huge bullish surprise”

Ag economists are surprised by USDA’s latest grain stocks,

yield and usage estimates for corn.

Scott Irwin with the University of Illinois says for the

first time he can remember, the USDA revised their September 1st stocks

number for corn making the  December 1st

corn stocks estimate of 11.38 billion bushels a more than 400 million bushel

usage surprise. 

“This is, at least on the surface, one of the largest bullish grain stocks surprises that we have ever seen.”         

He

says another shock when looking at the USDA numbers, is that first quarter feed

and residual use for corn is implied to be over 2.6 billion bushels.

Continue reading Economists call USDA’s corn stocks estimate a “huge bullish surprise” at Brownfield Ag News.