With planting still ongoing, this morning’s World Agricultural Supply and Demand report, was tentative.
Noteworthy is the drop in corn ending stocks for the 2013-2014 marketing year, down 55 Mbu to one 1.9 Bbu. That figure is still 2.5 times higher than last year’s carryover.
Soybean ending stocks for the current marketing year remain unchanged at 125 Mbu, and new soybean carryover is also unchanged at 265 Mbu
Changes in acreage will be accounted for in the June 28th acreage report. Enumerators with USDA’s National Agricultural Statistics Service are in the fields with producers this week and next to gather data for that report.