U.S. wheat ending stocks were down from last month, but corn and soybean supplies increased. Total Farm Marketing Senior Market Advisor Naomi Blohm says global ending stocks only had small changes. “Corn ending stocks pretty much came in right on the estimate. Soybeans came in 102.2 million metric tons and wheat came in a little bit larger than the average estimate at 267.8 million metric tons.” Blohm says everyone’s putting all the chips on South America’s production. “The world ending stocks situation is not as good as a few years ago so the world is hoping that South America has record-high production.”
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