AgResource Analysis of USDA’s Oct Reports
Oct WASDE corn data leans slightly bearish as NASS’s updated production forecast exceeded the average trade estimate by 70 Mil Bu, which followed the expected 49 Mil Bu hike in carryover. New crop stocks were lifted to 1,500 Mil Bu and stocks/use of 10% will keep Dec CBT corn bound to a range of $5.15-5.45…