As expected, the USDA didn’t make major changes in the March World Agricultural Supply and Demand Estimate report. U.S. wheat, corn and soybean production and ending stocks were all unchanged from the February report. USDA did raise global oil seed production and stocks from last month. Soybean production increased 2.4 million tons on a one million ton increase for both Brazil and Argentina. USDA lowered Argentina’s soybean crush by one million tons, resulting in global soybean stocks increasing by 3.6 million tons to 102.4 million. Global wheat ending stocks are projected to be lower, but remain record large at 287.1 million tons. USDA made virtually no change to corn ending stocks.