April 9, 2009

USDA Supply & Demand figures were released today showing corn carryout at 1.7 billion bushels and soybeans at 165 million bushels. The bullish USDA Supply and Demand report didn't produce the desired end result for market bulls. The corn market had a disappointing day in market bulls' eyes as it stayed in negative territory for a majority of the session. USDA lowered U.S. ending stocks to 1.7 billion bushels on increased feed use. Soybeans had the start to a higher open only to pull back going into the close.