May World Ag Supply & Demand Estimates

The USDA provided their May estimates for the 2016/17 crop season and their projections for the 2017/18 season. Ending stocks for corn, wheat, and soybeans saw little change for the 2016/17 crop season.  Corn stock estimates declined from 2.320 billion bushels in April to 2.295 billion.  A decrease of 25 million bushels and not far from the average estimate of 2.326 billion.  Wheat stocks were unchanged and…