USDA’s June Supply and Demand Report had only a few changes in U.S. ending stocks figures, but there were some surprises in the global numbers. Mike Krueger with The Money Farm says U.S. soybean ending stocks were tightened just slightly in both the old and new crop categories.

World soybean ending stocks were lowered 2 million metric tons in the old crop year and 3 million metric tons for new crop.

World ending stocks for corn were bearish for the 14-15 marketing year with a hike of 4.5 million metric tons. Corn ending stocks domestically were also raised slightly in both old and new crop years, despite a static new crop production estimate.

Krueger says U.S. wheat carryover was increased in both marketing years and USDA increased winter wheat production. Despite the weather problems with the wheat crop globally WASDE increased production, yet they decreased world carryover.

The big report will be at the end of the month with the June 30 Acreage and Quarterly Stocks.