September WASDE Shows Lower Ending Stocks

The latest World Agriculture Supply and Demand Estimates show ending stocks declining for corn, soybeans, and soybean oil. Corn is expected to see stronger 2014/15 use result in a 40-million-bushel decrease to ending stocks, which lowers 2015/16 beginning stock projections by the same amount. The expected corn yield was reduced by 1.3 per acre. This lowered production expectations by 101 million…