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USDA Stocks Numbers Drives Prices Upward Again

On Wednesday, USDA's National Agriculture Statistics Service (NASS) issued Grain Stocks Estimates that led to quick upward motion for futures markets for corn and soybeans. The report indicated corn stocks down 10 percent from 2019 and soybean stocks down 42 percent. In addition, wheat stocks were estiated to be down 8 percent. The changes are largely suspected to be a result of recent export growth under the "Phase 1" trade deal with China.

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