CROPS NEWS
Todd's Take
Todd Hultman DTN Grains Analyst
Tue Jul 29, 2014 06:15 AM CDT

If USDA's July estimates are close to accurate, 2014-15 will see the largest U.S. ending stocks-to-use ratio for corn in six years. Thanks to good growing weather so far in 2014, many are estimating an even larger surplus, possibly topping 2 billion bushels for the first time since 2004-05. This year's expectations for a large fall harvest, helped by mild summer weather, have hit December corn prices hard, now down to $3.71 3/4 (as of Friday) and falling. Profitable ethanol margins have provided one source of demand for corn through the decline, but overall, commercials, like nearly everyone else, have ...

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