USDA’s World Agricultural Supply and Demand Estimates (WASDE) report delivered positive news for the commodity markets. Corn ending stocks for the new marketing year are forecast at 1.57 billion bushels. That’s down over one million bushels from last month and below the average trade guess of 1.65 billion bushels. At 385 million bushels, the U.S. soybean ending stocks figure is below the pre-report estimate of 440 million bushels. Domestic wheat stock total 946 million bushels, down from the average trade guess of 957 million.
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