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The USDA's November feed outlook cut US 2024/25 corn production after a yield reduction of 60 million bushels, lowering corn ending stocks to 49.2 million tonnes. Sorghum supplies rose about 5 percent, and total coarse grain ending stocks were reduced to just over 52 million tonnes.
Global coarse grain production was also projected lower.
Lower US corn ending stocks tighten the feed grain balance and support corn prices. Higher sorghum supplies add competition for corn in feed rations.
millingandgrain.comChristopher JoseDec 28, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not 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.
