Soybeans called 15-20 cents lower
USDA’s May supply/demand report.
USDA 2010/11 U.S. soybean ending stocks at 170
million bushels, above an average of analysts’ estimates for
137 million, and 2011/12 ending stocks at 160 million, below an
average of analysts’ estimates for 167 million.
Wheat called 10-15 cents lower
The U.S. Agriculture Department 2011 U.S. winter wheat
production at 1.424 billion bushels, above an average of analysts’
estimates for 1.395 billion.
USDA 2010/11 U.S. wheat ending stocks at 839 million bushels
and 2011/12 ending supply at 702 million bushels.
Corn called 15-20 cents lower
USDA 2010/11 U.S. corn ending stocks at 730 million bushels,
above an average of analysts’ estimates for 661 million and 2011/12 ending
stocks at 900 million, above an average of analysts’ estimates for 808
million.