USDA made very few revisions in the December Supply and Demand Report.   U.S. wheat ending stocks were left unchanged at 911 million bushels, but global carryover was raised by 2.6 million metric tons. Louise Gartner of Spectrum Commodities says this was the surprise of the report because of the production issues and lower estimates coming out of the Europe and especially Australia.

World corn ending stocks were left unchanged, with U.S. carryout up just slightly from November. Gartner talks about where the minor adjustments came from in corn.

Soybean carryover was also unchanged domestically left at 465 million bushels, but the world ending stocks were raised slightly.  WASDE pegged world soybean stocks at 82.6 million metric tons.