WASHINGTON – The Wall Street Journal recently attacked the U.S. Department of Agriculture’s recent statistical reports, especially about corn reserves. Recent estimates have been surprises and have created a frenzy of market trading by speculators, resulting in sudden changes in commodities prices. USDA’s top economist Joe Glauber told a congressional panel that because much of the grain is going for ethanol production and because the USDA depends on farmers’ reports but that most of the corn is now being held by elevators and grain sellers, it’s tricky to nail what is being held in storage.
Thursday, Feb. 23, 10 p.m.
