Iowa Farm Bureau Federation
07/15/2024 | News release | Distributed by Public on 07/15/2024 08:40
Market Briefs 7 17 2024
USDA lowers corn, soy ending stocks
Analysts see July WASDE report as supportive for prices as USDA boosts crop use.
The U.S. Department of Agriculture (USDA) lowered its U.S. corn ending stocks estimates for both 2023-24 and 2024-25 last week in its monthly World Agricultural Supply and Demand Estimates (WASDE), surprising traders who expected both numbers to rise.
The USDA raised 2023-24 U.S. corn exports by 75 million bushels and boosted feed and residual use by 75 million bushels, putting ending stocks at 1.877 billion bushels, down...