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USDA RAISES DOMESTIC GRAIN STOCKS

USDA raised ending stocks of corn and wheat and left soybean stocks unchanged from last month, at a hefty 955 million bushels, in its December world ag supply and demand estimates report. According to U of I ag economist Todd Hubbs, South American competition could pressure U.S. crop sales despite trade talks progressing between the U.S. and China. “The potential for strong South American soybean export competition during the marketing year is the limiting factor in expanded U.S. soybean exports, despite the possible resolution of the trade issue,” Hubbs said. (FarmWeekNow.com)

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