Agriculture market participants know that U.S. corn and soybean supplies have been building to multi-decade and even record highs over the past year, reports Reuters.
Monday’s data from the U.S. government will likely cement that, and then analysts can finally look ahead to the supply cuts expected over the next year.
Sept. 1 corn stocks, estimated by analysts at 2.428 billion bushels, would be the highest for the date since 1988.
Soybean stocks, predicted at 982 million bushels, blow away 2007’s record of 574 million.
Read the full report at Reuters.
