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USDA’s quarterly grain stocks data showed YOY increases for corn, soybeans and wheat. Corn stocks were pegged at 1.376 billion bu., below the average trade estimate of 1.512 bb, with soybeans 32 million bu. higher.
Sept. 1 corn stocks came in 135 million bu. below the average pre-report trade estimate. The wheat production estimate was 128 million bu. lower than traders anticipated.
Wheat futures tracking for second weekly gain on concern over Russie-Ukraine; corn and soybeans also firmer.
USDA’s Grain Stocks Report due out this morning, barges run aground in the Big Muddy and diesel prices soften...
Wheat futures were supported overnight by Black Sea supply concerns as Russia was set to annex four regions of Ukraine. Corn and soybeans followed wheat higher.