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BROCK: USDA REPORTS NOT A MAJOR PRICE MOVER
Source: Brock Associates

Yesterday's USDA report did not provide any major price moves. The 19/20 U.S. corn carryover increased from 1.892 billion bushels to just over 2 billion, and the average from price was lowered by 20 cents to $3.60, while world Corn carryover increased from 297.3 to 303.2 mmts.

U.S. soybean carryover increased from 424 million bushels to 480, however the soybean marked closed very strong for the week.

Cotton was hit with the most bearish news, with U.S. carryover increasing from 5.1 million bales to 6.7 million, and world carryover increasing from 83.4 to 91.26, but as with soybeans the cotton market finished a positive week by closing at new highs.


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