February 13, 2019 | by Joel Fingerman
Last Friday the USDA issued the February WASDE report. In general, there were no unanticipated data contained in the report and so no major price reaction with the release of the report.
Corn Ending Stocks were 1.735 billion bushels, while expectations were for 1.708 billion bushels (Chart 1, 2018 bar). The Stocks to Use ratio was 11.7% (Chart 2, 2018 bar). While not strongly bullish, the data are supportive of corn prices.