USDA is forecasting global soybean stocks at 84.3 million tons, down 1.3 million from the last report. Lower stocks for the U.S. and Argentina partially offset a larger supply in China. Foreign corn ending stocks dropped more than five million tons, totaling 283.8 million tons. The projected 2020/2021 world ending stocks for wheat were lowered 3.3 million tons, totaling just over 313 million. Wheat stocks remain record high with China and India holding the majority of that supply.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.