Carryout Numbers Updated

The U.S. soybean ending stocks total 910 million bushels, down 45 million bushels from December. That’s in line with trade expectations. The increase in the soybean crush was offset by a 25 million bushel reduction in exports. The U.S. corn carryout is at 1.7 billion bushels, down slightly from the last report, but within the range of trade estimates. Domestic wheat ending stocks are just over one billion bushels, up from 974 million bushels. The stockpile of soybeans worldwide is 106.7 million metric tons, which is below the average trade guess. Global corn and wheat stocks were within the range of trade estimates.