Roundup: CBOT agricultural futures rally on bullish stocks, seeding report Xinhua 04 Jul 2021, 06:18 GMT+10 CHICAGO, July 3 (Xinhua) -- CBOT agricultural futures rallied strongly last week on bullish U.S. Department of Agriculture (USDA) stocks/seeding report. Chicago-based research company AgResource stays bullish amid rising post pandemic demand and lasting drought in U.S. Northern Plain and Northwest Midwest. CBOT corn futures ended sharply higher as USDA Stocks & Seedings data confirmed that perfect Plains/Midwest weather is needed in July/August to keep U.S. corn end stocks above 1,000 million bushels. Tightening old crop stocks and record new crop demand require a yield of 180 bushels per acre to push 2021-2022 U.S. corn end stocks above 1.0 billion bushels. Such a yield is unlikely as drought/heat into pollination has pulled the top end of 2021 U.S. corn yields. And Brazil's winter corn crop suffered a damaging hard freeze which looks to pull its total corn crop down to 84-87 million metric tons. Imports are needed and Brazil's exports will be cut by at least 7-12 million metric tons.