In Friday’s Supply and Demand report, USDA lowered soybean ending stocks by 10 million bushels. U.S. soybean stocks are now projected at 900 million bushels, with exports remaining unchanged. Soybean crush was raised 10 million bushels to 2.1 million bushels on higher use of soybean meal. USDA increased corn stocks 100 million bushels to 1.83 billion bushels. Corn exports were reduced 75 million bushels to 2.37 billion, reflecting diminished U.S. price competitiveness and expectations of increased exports for Brazil and Argentina. USDA raised wheat stocks 45 million bushels to 1.05 million bushels. Wheat exports are 35 million bushels lower to 965 million bushels.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.