The most recent quarterly stocks report by the USDA showed a smaller-than-expected supply of old-crop corn.
Dale Durchholz at Grain Cycles says that will impact demand, comparing it to to removing two bushels per acre from new crop production.
“When you look at that, you really have to start to tighten down. Whether it’s livestock feed, maybe ethanol we take a little bit out of, but in particular, you start taking some bushels out of those corn export projections to keep the new crop carryover over a billion bushels.”
The WASDE report will be released tomorrow at 12:00 pm ET.
