In the May USDA World Agriculture Supply and Demand Estimate report, USDA lowered U.S. soybean ending stocks and world corn ending stocks more than expected. U.S. soybean ending stocks are forecast at 530 million bushels, which is at the lower end of trade guesses. World corn ending stocks came in at 195 million tonnes, also at the lower end of trade guesses. The U.S. corn carryout is estimated at 2.2 million bushels, unchanged from April. U.S. wheat ending stocks are up slightly from April at 1.1 million bushels.
