World 2019/20 ending stocks for #corn, #soybeans, and #wheat all came in above trade estimates. But note that for corn, World minus #China fell to 99.49 mmt from 100.66 mmt in Nov. World-China wheat also fell slightly to 142.04 mmt from 142.61 mmt in Nov.

Barely any changes were expected for #Brazil and #Argentina #corn & #soybeans, and USDA did not make any changes from November.

Conab slightly increased production for #Brazil's 2019/20 #corn and #soybeans. Exports unchanged. Old crop corn exports were bumped to 40 mmt from 39 mmt in Nov.