Grain Express

Corn (March)

Fundamentals: Yesterday’s USDA report provided the volatility we were expecting, with March corn future trading in a 29 ¼ cent range. US Ending stocks came in at 1.502 billion bushels, this was near the top end of expectations, making this a bearish USDA report which could mute the extreme enthusiasm we have seen recently. World ending stocks came in at 286.53 MMT, up from the 283.80 we saw in January. In the coming weeks, we will start to hear the conversation shift towards US acres and weather.