Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 9/24/18

The USDA releases the Quarterly Grain Stocks report on September 28.  The report indicates corn and soybean use during the fourth quarter of the 2017-18 marketing year.  Corn and soybean prices are unlikely to find any support with the release of the report on Friday. The supply of corn available on June 1 of the marketing year is the base for estimating September 1 stocks.  Corn stocks started the quarter at 5.306 million bushels based on the June Grain Stocks report estimate.  Currently, the Census Bureau estimates for corn imports are only available through July.  Imports for the fourth quarter are on pace to total near 7 million bushels.  By combining imports with the beginning stocks, total available supply for the fourth quarter comes in at 5.313 billion bushels.

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