USDA lowers old crop soybean, wheat ending stocks estimates

The USDA has lowered old crop soybean and wheat ending stocks estimates, while leaving corn unchanged.

Soybean ending stocks for the current marketing year are seen at 235 million tons, down 25 million from April on an increase in exports.

2021/22 wheat was reported at 655 million bushels, 23 million lower, on higher food and export demand.

Corn came out at 1.44 billion bushels, with no adjustments to the balance sheet.

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