USDA Reports Tighter Stocks In A Variety Of Crops

Mark Jekanowski recently broke down the latest USDA crop report.

"And October's a little bit unique because we also incorporate the whole traunch of information that we got on September 30th and that's the grain stocks report and the small gain summary."

The report had a variety of surprises, including a few that caught the eye of the World Ag Outlook Board Chairman.

"The biggest surprises came on September 30th when the stocks report kind of implied much tighter supplies for all of the major grains and oil seeds; corn, soybeans, wheat."

Jekanowski added the tighter stocks were relatively unexpected but have now been included in the balance sheet. How will those tighter numbers impact wheat?

"Now we're forecasting for the new crop year, the lowest stocks in 6 years, so I think that's pretty note-worthy."

Tighter stocks could translate into higher prices for wheat as well as corn and soybeans.

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