In USDA’s Quarterly Stocks report, old crop soybean ending stocks declined, but not as much as traders expected. USDA says there were 274 million bushels of soybeans on hand September 1. The average trade guess was closer to 247 million bushels. Corn ending stocks at 1.37 billion bushels were 120 million bushels below the average trade guess and wheat ending stocks came in at 1.77 billion bushels, slightly below the average trade guess of 1.8 billion bushels.
