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USDA's June Grain Stocks report showed total grain disappearance of 4.6 billion bushels, down 4% from last year, and June 1 stocks of 5.6 billion bushels, down 9% year on year. The USDA projected 2023/24 total grain supplies at 24.6 billion bushels, up 8%.
Low old-crop stocks mean transport demand stays muted until harvest, which keeps barge rates soft and reduces near-term rail and barge pressure on prices.
doi.orgJul 13, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
