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Alpari Grain Report 10/02

By International Business Times October 02, 2012, 04:37:22 PM EDT

Fridays USDA monthly crop report unveiled a few surprises on the quarterly stocks report to create some real report day volatility. The first was in corn. Corn stocks on hand as of September 1 were estimated at 988 million bushels the lowest in eight years, under the average pre-report trade estimate of 1.145 billion bushels and near the low end range of pre-report estimates of 887 . The range was 887 to1.350. This had corn up the 40 cent limit at days end. This suggests to traders that the ending stocks inventory or carryover on the next USDA crop report October 11 will come in lower.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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