Today’s USDA Stocks Report

The September 30 Grain Stocks Report from the USDA many times is a big market mover. I was out of the office this morning and I heard corn was up 4-5 cents and the beans were up 10-11. You can't help but think is it going to be a bullish report and somehow the market knew about it. Well I guess not as there was not any real shock in the numbers.

Corn on hand was 1.73 billion bushels, while the trade guess was 1.739 billion. In September 2014 there was corn stocks of 1.232 billion. Beans on hand were 191 million bushels while the trade guess was 205 million. One year ago there were 92 million bushels of beans in the bins. Most farmers, myself included, are hoping for a rally in October like last year along with a very good basis. That might happen, but we have to keep one thing in mind. We have more corn and beans on hand this year compared to last year. Looking at the numbers it is about 500 million bushels of corn and 100 million bushels of beans.