The USDA increased its ending stocks estimates for U.S. corn, soybeans, and wheat.
The rise in corn was because of higher ending stocks last marketing year, along with a lower feed use projection, but the USDA did increase its export estimate. For soybeans, last year’s higher carryover canceled out a slightly lower production guess, with no other changes to the balance sheet. The month to month increase in wheat was because of higher production, higher imports, and lower feed use.
Continue reading USDA raises domestic ending stocks projections at Brownfield Ag News.
