With supplies rising and use falling, U.S. corn ending stocks for 2019/20 are up 171 million bushels to 2.1 billion. That’s according to USDA’s August supply/demand estimates. U.S. corn exports were lower in the report, while global corn production and stocks are estimated to increase. New crop U.S. soybean stocks are estimated at 4.7 billion bushels, down three percent from last month. New crop exports are down by 100 million bushels, and global soybean ending stocks were also lowered. U.S. wheat ending stocks are expected to increase by 14 million bushels to just over one million. New crop U.S. wheat exports are projected to increase by 25 million bushels, while global supplies and exports are projected to decline. View the full report here.
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