USDA reduced global wheat supplies by a half-million tons in the April Supply and Demand report, mostly on increased feed and residual use for China. World corn ending stocks are forecast at 283.9 million tons, down 1.3 percent from the March estimate primarily on lower production in Argentina. World soybean ending stocks were raised 3.7 percent from March to 86.9 million tons on a two million ton increase in Brazil’s crop.
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