U.S. Department of Agriculture’s (USDA) Quarterly Grain Stocks report surprised markets last week after raising old crop (2020-21) soybean production by 81 million bushels, Farm Futures reported. 

For corn, the U.S. old crop production is estimated at 14.11 billion bushels, slightly below the previous USDA estimate of 14.18 billion and the trade’s expectation of 14.17...