Corn Falls Lower on Monday, as Stocks Come in Well Above Estimates

Corn futures fell 6 to 7 cents across most contracts on the Tuesday session, as USDA found a couple (hundred million) more bushels than the trade had expected in the quarterly Grain Stocks report. The CmdtyView national average Cash Corn price was down 6 cents at $3.72 ¼. This morning’s Grain Stocks report showed September 1 corn stock, both on and off farm, at 1.532 bbu. That was well above the average trade guess of 1.336 bbu, as well as the September WASDE estimate for ending stock, yet still 231 mbu b ...