New USDA stocks data downgrades grain price estimates

The higher than expected US stocks data last week eased fears over corn supplies, Goldman and Sachs downgraded its grain price forecasts. Grain analysts Damien Courvalin have also slashed his estimates, "We expect these higher 2011-12 corn beginning stocks to more than offset our forecast for lower new-crop corn production and allow for both stronger demand and higher ending stocks than we had previously expected," said Courvalin. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers.