The U.S. Department of Agriculture has predicted lower-than-expected U.S. corn stockpiles next year of 1.827 billion bushels, down from 1.877 billion, but raised its global stockpile projections to 189.6 million metric tons from 189.2 miillion, reports Jesse Newman for the Wall Street Journal.
“Combined grain supplies are substantial, and the market will not shift attention to the spring-planting progress and crop development across the Northern Hemisphere,” Jerry Gidel, the chief feed-grain analyst at Rice Dairy LLC, said in a Bloomberg article.
Market Vectors Agribusiness
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Max Chen contributed to this article.