USDA’s big and unexpected cut in June 1 corn stocks and soybean stocks put new wind into the sails of those who argue the government overstated the size of last year’s crops.

A notable proponent of that view has been the private company Lanworth, whose estimates we’ve discussed several times over the past year.

Following the release of today’s report, Nick Kouchoukos, Lanworth vice president of products, told me he’s “heartened” by the numbers, and he said Lanworth spent the winter reviewing its numbers and looking for ways to corroborate what they’d found.

Click to Read Entire Article: Market Matters Blog July 1, 2010