USDA 2019/20 corn, soy stocks view tops trade expectations

CHICAGO: The US Department of Agriculture projected corn ending stocks at the end of the 2019/20 marketing year at 2.485 billion bushels on Friday, above the highest in a range of analyst estimates.

The USDA's forecast for US 2019/20 soybean ending stocks was 970 million bushels, above the average estimate in a Reuters survey of analysts.

Chicago Board of Trade July corn and July wheat futures fell to contract lows after the data was released. CBOT July soybeans also set a contract low before paring losses.