date:Sep 29, 2012
n. With USDA placing stocks under one million, and variable yields implies a much more tight situation moving forward, Scoville says. Wheat production dead on, but stocks down. This implies corn feed use was much higher than people were estimating. We should find out part of that tonight with the Hogs and Pigs report.
For soybeans, even though the report was bearish to expectations, stocks remain tight. So, down side should be limited, Scoville says.