AgResource Mid-Day Commentary; January USDA Report as Expected – No Big Surprises; South American Weather and Private Crop Estimates to Rule CBOT Close
CBOT grain futures are slightly lower following the January USDA Crop report with US corn/soybean stocks slightly larger while WASDE raised world wheat end stocks due to an increase in Argentine production and a modest cut in world wheat trade. The USDA January report will not alter prevailing price trends with cash markets to underpin…