Old-crop corn ending stocks are unchanged. New-crop ending stocks were lowered from the May estimate of 900 million bushels to 695 million. Feed and residual use was reduced 100 million to 5 billion; ethanol and exports were left unchanged at 5.05 billion and 1.8 billion respectively.
"This report should be viewed as bullish for corn," said DTN Senior Analyst Darin Newsom.
As seen on DTN Morning Snapshot
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