July Corn Futures Little Changed After Larger-Than-Expected Increase in Projected Ending Stocks

The chart below plots the July corn futures closing price one week after the April WASDE vs the April WASDE’s projection for corn ending stocks/use.  This year, the April WASDE’s projection for 2018/19 corn ending stocks was 14.0%.  That’s up from the March WASDE’s projection of 12.4% but it is below last year’s 14.8%.  …