The USDA has lowered it's global corn and soybean stocks and raised it's wheat stocks from it's September projections.
The department says increased wheat beginning stocks and production offset a slight increase in total world usage, bumping the world ending stocks up 1 point 9 million tones.
That would bring those ending stocks to a record 228 point 5 million tons.
Global 2015-16 corn ending stocks are now projected to be 187 point 8 million tons.
That's 1 point 9 million tons lower than the September projections and would be 8 point 2 million lower than the 2014-15 number.
The USDA raised it's global soybean stock projections marginally as higher stocks for Brazil are only partly offset by reductions for the U-S, Argentina and India.
