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USDA cuts U.S. corn, wheat ending stocks


The USDA has tightened its domestic balance sheets for corn and wheat, while leaving soybean ending stocks unchanged from November.

The corn carryout for the current marketing year is now pegged at 2.131 billion bushels with wheat seen at 659 million bushels, both down 25 million on the month on higher export demand projections following a recent uptick in U.S. sales.

Soybean ending stocks remained at 245 million bushels.

Globally, the USDA lowered its soybean production outlook for Brazil because of widespread planting delays, while also raising Brazil’s export projection, reflecting the strong demand from China, which saw an increase in its soybean import guess.

USDA cuts U.S. corn, wheat ending stocks