The USDA's Magic Numbers #3
The USDA cut world wheat ending stocks for 2010/11 to 174.8 MMT from 187.1 MMT in last month's report.
They upped their estimate for Chinese soybean imports to 52 MMT from 50 MMT. World ending stocks of soybeans in 2010/11 were cut from 67.76 MMt to 64.73 MMT.
Global corn ending stocks for 2010/11 were cut from 141.08 MMT to 139.2 MMT. The EU-27 corn crop was reduced from 56.99 MMT to 55.95 MMT, and the Ukraine corn crop cut by 1.5 MMT to 11.50 MMT.
They upped their estimate for Chinese soybean imports to 52 MMT from 50 MMT. World ending stocks of soybeans in 2010/11 were cut from 67.76 MMt to 64.73 MMT.
Global corn ending stocks for 2010/11 were cut from 141.08 MMT to 139.2 MMT. The EU-27 corn crop was reduced from 56.99 MMT to 55.95 MMT, and the Ukraine corn crop cut by 1.5 MMT to 11.50 MMT.