The quarterly stocks data surprised trade on corn and soybeans with lower numbers than what were expected. As of Sept. 1, the United States had 2.11 billion bushels of corn in reserves compared to 2.14 billion bushels a year ago.
The average guess going into this release was for 2.42 billion bushels. Inventory was split with 1.36 billion bushels off-farm and 735 million bushels on-farm. A year ago, the division was 1.5 billion...