USDA cut Brazil’s soybean production by one million metric tons 156 million in the February supply and demand report. Argentina’s soybean production is unchanged from January at 50 million tonnes. Brazil’s corn production was lowered by three million tonnes to 124 million from January and Argentine corn production was left unchanged at 55 million metric tons. USDA raised U.S. corn ending stocks slightly to 1.17 billion bushels. U.S. soybean ending stocks, at 315 million bushels, are up 35 million bushels. Wheat ending stocks were raised 10 million bushels from last month, totaling 568 million bushels.
