USDA said corn ending stocks were projected higher mostly on higher stocks expected for Brazil. Meanwhile, small reductions in corn stocks for Russia and the European Union offset most of the increases projected for the United States.
World soybean ending stocks for 2015-16 were projected at 93.22 million tonnes, down 3 million tonnes from May but up 9.52 million tonnes, or 11 percent, from 83.7 million tonnes in 2014-15.
USDA 2015-16 ending stock projections compared with pre-report average trade expectations near 192 million tonnes for corn and 96 million tonnes for soybeans.
