USDA raised its 2011/12 ending stocks projections for corn and wheat, while lowering soybeans slightly and reducing price outlooks for all three crops.
USDA has wheat at 837 million bushels, compared to 761 million a month ago and 862 million a year ago. On a month to month basis, USDA reduced its outlooks for crop size and all demand categories while cutting the price outlook to $ 7.10 to $ 7.90 per bushel.
Corn ending stocks are projected at 866 million bushels, compared to 672 million last
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