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USDA increases supply outlooks for US corn, soybeans, and wheat

[/title][fusion_text]Tuesday, February 9th 2016

Courtesy of Brownfield Ag News

The USDA has increased its supply outlooks for U.S. corn, soybeans, and wheat. Wheat ending stocks for the current marketing year were raised 25 million bushels on the month to 966 million, with reduced export demand. Corn ending stocks were increased 35 million bushels to 1.837 billion, with lower exports cancelling out increased domestic demand. Soybean ending stocks were up 10 million bushels at 450 million, due to a lower crush use estimate. USDA also raised world ending stocks projections for wheat and soybeans, while lowering corn slightly. Month to month, corn production estimates were increased for Argentina and Brazil, and the Argentine soybean production estimate was also up from January. The next set of supply and demand numbers is out March 9th.

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