In the April Supply and Demand report, the USDA raised global ending stocks of wheat slightly to under 293 million metric tons. That’s due to lower Russian wheat production being offset by an increase in the European Union’s production. Global corn ending stocks were raised one million tonnes to 1.4 million on larger production and lower trade. Global soybean ending stocks were reduced 3.7 million tonnes to 338.1 million tonnes on lower South American production. All global ending stocks numbers were within pre-report trade estimates.
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