The February USDA World Agricultural Supply and Demand Estimate report had USDA raising world corn ending stocks 2.7 million tonnes from January to 286.5 million tonnes, reflecting increasing stocks in China, South Africa and Mexico partially offsetting decreases in Argentina and Brazil. Global soybean stocks are reduced one million tonnes to 83.4 million as lower stocks in the United States and Brazil more than offsetting higher stocks in Argentina. World wheat ending stocks were raised 800,000 tonnes to 304.2 million tonnes as global production was increased to a record 773.4 million tonnes.
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