Supplies, selling prices poised to go in opposite directions. Coming after last fall's record corn and soy harvests, April's springtime keynote USDA report contained few surprises. However, even in booming or neutral markets, a lack of news is enough to make prices drift downwards and they duly did so.
Preliminary corn and soy inventory numbers hint that feed grain may be more plentiful than expected. In the run up to next week's USDA WASDE report, uncertainty over inventory levels increasingly dominate corn and soy's market sentiment.