Cut in World Corn Ending Stocks

[errolanderson]

The surprise number in this morning's USDA report was the sharp drop in world corn ending stocks for 2015-16.

USDA reported world stocks at 189.9 million MT, 4.5 million MT below average trade estimates of 194.2 million MT.

Corn technically may be showing a bullish key reversal on the charts.
Depends on the close . . . .

This may trigger support for other grains ie: wheat (IMO).

[furrowtickler]

Hope your right Errol - that would be a nice lift right now

[fjlip]

Yup corn usually carries all grains, they must maintain a price ratio to prevent all corn acres in 2016! Finally USDA a "friend"?