Mike Pearson tells us about the quarterly grain stocks report which tells traders how much physical grain is on hand released Friday, September 29.
The report sent corn, soybean and wheat prices falling through the afternoon.
The USDA report sent prices in the bullish range for corn, bearish for soybeans and neutral for wheat.
Data showed increased tightening in the balance sheet. The report stated there were 1.26 Billion bushel as of September 6 compared to the 1.43 billion estimated. It went on to state there were 605 million bushels stored on farms and 756 million stored commercially.
Wheat…
