date:Oct 01, 2012
Corn futures soared the maximum daily limit, with wheat posting a 5% rise too, after the US said that its stocks of both grains fell last season more steeply than investors had expected, in a report which maintained its knack for surprises.
The US Department of Agriculture, in a much-anticipated report on crop inventories at the start of this month, pegged corn stocks at 988m bushels (25.1m tonnes), a decline of 12.1% year on year.
The figure for a date which marked the close of the 2011-12 cr