Crop production numbers were down since last report but slightly above expectations so neutral on that front.
But USDA finally showing a realization that Demand is not being rationed at these price levels and Ending Stocks come in below expectations (though within the estimate range which was very broad).
As always, a Bearish close on a Bullish report is the fear so we must watch the close, but this report is firmy pointing at the fact that prices are not high enough yet to ration Demand.
