The USDA has cut its outlook for new crop U.S. soybean ending stocks. The biggest changes to the balance sheet were in beginning stocks, or old crop ending stocks, with the USDA saying there was improved crush and export demand at the end of last marketing year. The USDA’s lower production and higher residual use estimates were also contributors. Corn ending stocks were up slightly on the month with bigger beginning stocks mostly cancelling out lower production and ethanol demand expectations.
Continue reading USDA lowers new crop U.S. soybean ending stocks at Brownfield Ag News.
