date:May 11, 2012
The U.S. Department of Agriculture also trimmed its forecast for inventories of domestic soybeans for the current marketing year, which could boost soy futures.
In its monthly supply-and-demand report for major crops, the USDA said domestic corn inventories as of Aug. 31, the end of the current marketing year, are likely to be 851 million bushels, up 6.2% from the agency's previous forecast of 801 million bushels. None of the 19 analysts in a Dow Jones Newswires poll had expected the USDA to