Market surprise from grain stocks report?

Market surprise from grain stocks report?

USDA released their September quarterly stocks report and the markets are lower across the board.  No real surprises in my opinion! Some of you however might be surprised when you see the soybean market lower on sub-100 million ending stocks numbers.

Keep in mind, the quarterly stocks report by the USDA is basically a look through the rear-view mirror.  In other words who really cares about the ending stocks shrinking by 34 million bushels when its happening behind our vehicle. Especially when the fast and smart drivers can clearly see a tsunami of soybeans heading their direction through the front windshield? Remember, trading is more about market psyche than it is about the actual data and news. As always, perception is everything!     

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US Grain Stocks (In billions of bushels)

 
Sep. #
Avg. Estimate
Range of Estimates
June 1,
2014

Sep 1,
2013

Corn
1.236
1.185
1.020 - 1.350
3.854
0.821
Soybeans
0.092
0.126
0.100 - 0.150
0.405
0.141
Wheat
1.914
1.880
1.707 - 1.980
0.590
1.870
 

 

 

TAGS: Soybeans Corn
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