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“Expectations for lower EU and U.S. production with the possibility of higher usage (including China) leaving U.S. and global stocks much tighter than current USDA forecasts continue to fuel to price strength. Export inspections at 59 mil. bu. were above expectations while bringing YTD inspections to 3.299 bil. up 25% from YA vs. the USDA forecast of up 18%. Noted buyers were Mexico – 20 mil. while Korea took 10 mil. December corn jumped 74 cents per bu. in August, the biggest jump since 2011,” Mark Soderberg of ADM Investor Services said.
