The USDA made a month-to-month increase in old crop corn and soybean ending stocks.
The corn carryover for the current marketing year is estimated at 1.53 billion bushels, up 20 million from July on a cut in ethanol use, while new crop ending stocks came out at just under 1.388 billion bushels, down 82 million due to lower production and higher feed use canceling out reduced exports.
Old crop soybean ending stocks are seen at 225 million bushels, 10 million more than a month ago because of lower exports, with new crop at 245 million bushels, 15 million higher, with a bigger crop production outlook mostly canceling out expectations for improved export demand.
