This is our current crop year, our old crop ending stock, that’s how much grain will be left as of August 31 prior to the new crop harvest beginning.

The trade is looking for corn ending stocks to come in at 1.476 billion bushels, that would be down 64 million bushels from last month. But still above the year ago level.

Soybean tock expected to come in at 270 million bushels, that would be down 55 million bushels form last month. But still a little above the year ago level.

Wheat stocks at 633 million bushels would be down 15 million bushels form last month, and down over 200 million bushels from a year ago.

The reduced stock that this trade is expecting is primarily due to the trade expecting USDA to raise exports for corn, beans, and possibly wheat due to losses in South America and losses out of the Black Sea region.

Turning to world ending stocks, the trade expects world corn ending stocks to come in at 299.6mmt, that would be down 2.6 form last month.

The trade expecting global soybean stocks at 88.9, that’s down 3.9mmt from last month.

With wheat expected to come in at 278, down just a fraction from a month ago.