Analysis of USDA Stocks & Seedings Data
Corn stocks and data leaned fundamentally neutral relative to current prices, but it’s clear market sentiment remains negative and risk premium is being subtracted, not added, from the market currently. June 1 corn stocks were pegged at 4,346 Mil Bu, which matched ARC/trade expectations exactly. Mar-May feed/residual use is calculated at 842 Mil Bu, down…