Futures Close Report 09/02/21

USDA – Anticipated drawdown in corns stocks in US, due to current high vols of export trade, was smaller than markets anticipated – hence moderately bearish for US corn prices.  USDA forecast corn ending stocks for the 2020/21 marketing year at 1.502 billion bushels and soybean ending stocks at 120 million bushels. Last month saw corn stocks at 1.552 billion and soybean stocks of 140 million.