USDA’s mid-year report showed corn stocks at 3.67 billion bushels, 350 million bushels more than expected. Planted acreage was 92.2 million acres, up from 90.7 million in June’s World Agricultural Supply and Demand Estimates and 5 percent above last year. The USDA now expects a harvest of 84.9 million acres, which should result in ending stocks above 1 billion bushels, compared with 695 million in June’s World Agricultural Supply and Demand Estimates. Analysts thought ...
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