Corn Futures Drop After USDA Reports Higher Stocks
The USDA's quarterly grain stocks report indicated higher-than-expected corn stocks as of September 1, suggesting weaker demand than previously anticipated.
USDA’s quarterly grain stocks report showed corn stocks as of Sept. 1 above expectations, pointing to weaker demand than previously thought. Corn was the standout bearish surprise in the report, with the data landing against a sizeable speculative long position in the market.