It was a fairly quiet day today in corn today, which closed 1-2 cents higher. Wednesday will be a big day as it is the end of the month, the end of a quarter and on top of that the USDA will release the Stocks Now Positions at 11AM. The past few years the Stocks Report has been a market mover. The crop progress report Monday afternoon showed that corn harvest is lagging a bit behind normal but it still is early.

Beans had a contrary Tuesday performance like corn, closing 3-7 cents higher. Beans did not quite recover all of Monday's losses. In the Stocks Report, traders are expecting a small drop of 5 million bushels. We do have a lot of livestock in the United States as indicated by the last Cattle on Feed Report and the Quarterly Hog and Pig Report. The past few years we have seem big changes in the quarterly Stocks Report. I still think the USDA is having a hard time getting a handle on how much grain is in on farm storage. There has been a huge amount of on farm storage built in the past 10-15 years. I suspect it was easier for the USDA to contact elevators for their survey rather than thousands of farmers.

More From KDHL Radio