date:Oct 12, 2012
50-day supply of corn based on current usage rates, the tightest level in 39 years.
Also Thursday, the USDA cut its forecasts for U.S. and world wheat supplies by less than analysts had expected. The USDA reduced its projection for domestic wheat inventories next May 31, the end of the current marketing year, by 6.3% to 654 million bushels. Analysts had expected a forecast of 627 million bushels.
The USDA trimmed its forecasts for wheat production in Australia, Russia and the European Union. Bu