Crop futures eased to finish the Tuesday trading session after the U.S. Department of Agriculture (USDA) published its October World Agricultural Supply and Demand Estimates (WASDE) report. The U.S. government raised its 2021-2022 domestic soybean output projections by 74 million bushels to 4.4 billion bushels. It lifted U.S. soybean inventory expectations for the current marketing season by 145 million to 4.7 billion bushels. Soybean ending stocks were estimated to total 320 million bushels, up 135 million from the previous month’s report. According to the WASDE numbers, corn output is expected to increase 23 million to 15.019 billion bushels, and ending stocks for 2021-2022 advanced 92 million bushels. Exports were also anticipated to jump 25 million bushels amid diminished competition from other large exporters. Projected ending wheat stocks were slashed by 35 million to 580 million bushels, the lowest level in more than a decade. However, U.S. shipments to foreign markets …
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