date:Sep 29, 2012
DES MOINES, Iowa (Agriculture.com)--The U.S. grain stocks continue to tighten, with the corn and soybean inventories the most concerning, according to the USDA.
In its Quarterly Grain Stocks and Small Grains Summary Reports Friday, the USDA lowered the amount of corn and soybeans on-hand as of Sept. 1.
Minutes after the report's release at 7:30am CT, the CME Group's electronic corn trade jumped 21 cents, wheat 18 cents and soybeans up 2 cents.
For corn, the USDA pegged stocks at 988 million