USDA's harvest estimate for U.S. #corn rises slightly from last month, though #soybeans decline after the June surveyed area is added in. No changes to trend yields.
Just a reminder, NASS is resurveying plantings in the Dakotas and Minnesota this month, so these estimates do NOT include any updated information since June 30 out of these states. NASS will publish any necessary changes to those planting estimates on Aug. 12.
The only change in South American harvests this month was an increase for old-crop #Argentina #soybeans. USDA left #Brazil #corn unchanged despite the trade's expectation for a possible increase.
World ending stock projections come in a bit larger than expected, but changes versus last month were relatively small. China soy imports down in both years but corn unch, Ukraine corn crop unch but wheat down, new-crop Ukraine crn/wht exports unch, Russia wheat exports unch.