USDA raises US, global year-ending corn stocks estimates for 2018-19 to above market expectations
The US Department of Agriculture projected Tuesday domestic corn stocks at the end of the 2018-2019 marketing year, which closes August 31, 2019, to be at 1.774 billion bushels (45.062 million mt), down 228 million bushels from its 2017-2018 estimates of 2.002 billion bushels but up 90 million bushels from its prior forecast for the period.USDA's domestic corn stocks estimates for the next marketing year was within the top end of the range of analysts' expectations of 1.477 to 1.785 billion bushels, but above the average analysts' expectations of 1.693 billion bushel, sources said.The incre [node:read-more:link]