The USDA has lowered its ending stocks projection for U.S. corn, while raising the outlooks for soybeans and wheat.
The 50 million bushel cut in corn, now at 2.122 billion bushels, followed upward revisions for feed and ethanol use, leaving export demand unchanged for now.
The increase in soybeans, up 25 million bushels to 340 million, was due to slow export demand, with the USDA also reducing expectations for seed and residual use.
