The USDA raised domestic ending stocks projections for corn, soybeans, and wheat.
The wheat carryout for the current marketing year is seen at 628 million bushels, up 30 million from December due to lower feed and export demand, but the USDA did raise the average estimated farm price a dime to $7.15 per bushel.
Corn ending stocks are pegged at 1.54 billion bushels, 47 million more than last month with higher production and lower exports cancelling out a bigger corn for ethanol use guess.
