Corn rebounded in early deals on Wednesday, adding 0.6%
to $3.78 ½ a bushel for May delivery, as of 10:00 UK time (04:00 Chicago time).
The recovery tallied with ideas that, even with the extra
corn sowings identified in the USDA plantings report, US inventories will decline
next season.
"Assuming a trend yield of 163 bushels per acre, the USDA's
corn plantings forecast of 89.2m acres, even so almost 0.5m acres above trade
expectations, will result in a slight reduction of the 2015-16 ending stocks,"
said Rabobank, restating a "neutral" forecast on corn futures.
