Grains slide after latest USDA numbers

|By:, SA News Editor

World corn stocks of 158.47MMT is higher than last month's estimate of 157.3 and trade expectations of 156.27. Domestic ending stocks, however, are now placed at 1.456B bushels vs. 1.481 last month and trade expectations of 1.488.

Domestic bean ending stocks of 145M bushels is down from 150 last month, but ahead of trade expectations for 141. World stocks of 70.64MMT vs. 73.01 previously and forecasts for 71.46.

Domestic wheat ending stocks of 558M bushels compares to 558M last month and 570M forecast.

Markets are reading the news as bearish, with corn off a nickel, beans down $0.25, and wheat off $0.02

CORN -0.25%, SOYB -0.75%, WEAT -1.2%

Related ETFs: JJG, GRU, WEET