US corn stocks expected to fall to 40 percent of normal: traders

In Washington, the USDA is expected to released a new forecast showing that corn stocks are tightening further, which traditionally signals higher corn prices. A survey of 17 traders conducted by Dow Jones Newswires showed stocks dropping to 736 million bushels, almost 1 billion bushels below normal stocks of 1.708 billion bushels. With rising prices, however, corn exports are expected to drop, and ease pressure off the inventories.

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