WASHINGTON (DTN) -- USDA increased 2013-14 corn domestic ending stocks by 10 million bushels in July's supply and demand report. It also increased soybean stocks by 30 mb.
USDA trimmed corn production for 2013-14 by 55 mb, citing reduced harvested acreage. USDA's yield forecast was unchanged at 156.5 bushels per acre.
The largest changes of the report came in the domestic and global wheat numbers. USDA pegged 2013-14 domestic wheat ending stocks at 576 mb, 83 mb lower than its June estimate of 659 mb. The change lowered the stocks-to-use ratio from 28.7% to 24.1%.
Globally, USDA cut wheat ending ...