The USDA made month to month reductions for 2020/21 U.S. corn, soybean, and wheat ending stocks projections on a combination of reduced production expectations and solid demand. The current marketing year started June 1st for wheat, September 1st for beans and corn, and October 1st for soybean products.
2020/21 U.S. wheat ending stocks came out at 877 million bushels, compared to 883 million in October and 1.028 billion for 2019/20. The USDA raised the food and feed use projections, putting domestic demand at 1.127 billion bushels and accounting for the month to month adjustment for carryout.
