Jerry Gulke DTN Columnist
Mon May 18, 2015 06:53 AM CDT

Going into last Tuesday's USDA reports, the market was certain that ending stocks would increase across the board for corn, soybeans and wheat. Soybeans did so, reaching a carryover for next year of 500 million bushels using USDA's current acreages. Wheat gained some stocks as well. However, corn did the opposite of what occurred in May of 2014 (last year) and found a drop in ending stocks for next year of over 100 mb in spite of still using a 166 bushels per acre national yield on an unchanged or higher usage of every demand line item (feed, food-seed-industrial-ethanol and ...

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