Disaster Avoided? Reviewing the 2019 Grain Ending Stocks Situation

Grain markets in 2019 had a familiar feel – a late June rally that faded as concerns about the U.S. corn and soybean crops subsided (see futures prices for corn here, soybeans here). This was especially frustrating for producers hoping for a substantial price improvement after spring planting challenges and record prevented planting acreage. Given Mother Nature’s best efforts to implement a supply management plan, it’s worth stepping back and considering how much grain outlook conditions changes in 2019. This week’s post reviews how projections of grain production and ending stocks changed throughout 2019. (more…)