US corn ending stocks were estimated at 2.127 billion bushels, a decline of 225 million bushels. Corn exports increased 175 million bushels with corn used for ethanol was up 50 million bushels. Last month corn ending stocks were 2.352 billion bushels. Corn usage was up more than expected. US soybean ending stocks were estimated at 555 million bushels, a jump of 25 million bushels. Crush was up 10 million bushels with exports cut 35 million bushels. Last month ending stocks were 530 million bushels. Wheat ending stocks were 1.034 billion bushels and last month it was 1.009 billion bushels.
Soybeans were negative as the US ending stocks increased while traders expected unchanged.
Argentina soybean production was 47 million tons. Last month it was 54 million tons. No surprise for Argentina soybeans. Brazil soybean production was 113 million tons and compares to 112 million tons last month. No surprise for Brazil soybeans.… Continue readingRead More »