Corn Prices Soar After USDA Supply/Demand Update

North American grain and oilseed futures saw significant gains on Wednesday following the release of updated supply/demand estimates from the U.S. Department of Agriculture.

The largest advances were seen in corn, with a bullish reaction to the new data driving prices higher.

According to Phil Franz-Warkentin of the Western Producer Markets Desk, this is a significant development for the market, and one that could have long-term implications for grain and oilseed prices.