With an increase in the crush and no change in exports, soybean ending stocks are estimated at 320 million bushels. That’s up from an average trade guess of 300 million. USDA is forecasting corn ending stocks at 1.5 billion bushels, up from trade expectations of 1.43 billion. The 2021-2022 wheat carryout totals 580 million bushels, up from a trade guess of 576 million. The U.S. wheat ending stocks are at their lowest level in 14 years. The season-average soybean price is forecast at $12.35 per bushel, down from $12.90 in September. The average corn price was left unchanged at $5.45 per bushel.
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