U.S. corn ending stocks came in slightly higher in the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates (WASDE) report last week, while soybean ending stocks are seen slightly lower from last month’s estimate.

The USDA’S WASDE report projects a 1.726-billion-bushel ending stock number for corn vs. earlier expecations by the trade of a 1.70-billion-bushel figure. The report pegs soybean ending stocks for the 2014-2015 marketing year at 325 million bushels. That’s down slightly from the May estimate but still about 6 million above the average trade guess heading into the report.

The projected U.S. corn yield remains at 165.3 bushels per acre as a slightly slower-than-normal ...