USDA issues Feb. report

In Tuesday’s February USDA report, the United States 2019-20 corn ending stocks were higher than the trade expected.

The number was 1.892 billion bushels while traders were predicting a number more like 1.864. The government’s January estimate was 1.892. U.S. soybean ending stocks were at 425 million bushels compared to expectations at 443 million and the January guess at 475 million.

USDA had 2019-20 wheat ending stocks at 940 million bushels compared to the anticipated 952 million and a January guess of 965 million.