In the February USDA Supply/Demand report, USDA raised global soybean ending stocks to 98.9 million metric tons on an increase in Brazilian soybean production. USDA increased Brazil’s soybean production two million metric tons to a record 125 million metric tons. USDA kept Argentina’s soybean production unchanged from the January report. USDA lowered world corn ending stocks by one million metric tons from the January report to 296.8 million metric tons. Global wheat stocks were lowered slightly from January to 288 million metric tons.
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