Corn carryout as USDA Projects. 10/10/2020

Published by David Tedrow on

USDA cut the new crop (2020/21) U.S. corn carryout this month in line with a small U.S. corn crop estimate. USDA also cut Feed and industrial usage. We have prepared a chart displaying the ratio of the October estimate stocks to crop year usage ratio excluding feed usage. We have found this stocks ratio is a more sensitive price barometer than including feed usage. Feed usage is very price elastic and is really a function of price more than a price determinate. 

Categories: Grains

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