Trade Expects USDA Grain Stocks Report to Show Sharply Lower Corn, Soybean Supplies

The U.S. Department of Agriculture is releasing its quarterly Grain Stocks report Wednesday morning, and the market expects sharply lower numbers for both corn and soybeans for the 2019-2020 marketing year. A recent survey showing lower expectations for grain on hand takes a lot of the potential out of the report for a bullish market response given the trade seems to expect lower numbers. While the numbers are normally seen as major indicators of global grain demand, 2020 has been anything but normal, and analysts expect the trade to turn its attention back to the biggest driving factors in the market right now — export sales and fall harvest progress — shortly after the report’s release Wednesday. Preview Wednesday’s report.