date:Apr 15, 2013
Overall, the USDA data was deemed by traders to be slightly bearish. Trading was choppy and volatile, however, as the grain trade continued to digest the latest government numbers.
USDA raised its estimate of US corn supplies on hand for the current marketing year, but not by as much as the market place expected. The USDA pegged US corn stocks at the end of the 2012-13 marketing year at 757 million bushels. This compares with USDA's March forecast of 632 million bushels and a pre-report consens