Afternoon Comments 09/30
The stocks report weighed on corn futures Tuesday. The quarterly Grain Stocks report stated September 1 U.S. corn stockpiles at 1.236 million bushels, which modestly exceeded industry expectations. That partially explains the subsequent CBOT decline, but traders also blamed the looming harvest. December corn futures settled 5.0 cents lower at $3.2075/bushel Tuesday, while May lost 5.0 to $3.42.