date:Apr 14, 2016
llion bushels, which was less than the average trade expectation of 454 million bushels.
Wheat: U.S. wheat ending stocks were estimated at 976 million bushels, which was just 1 million bushels more than the trade forecast of 977 million bushels. At 976 million bushels, these qualify as the largest ending stocks since 1987, according to USDA, thanks to lower feed and residual use and rising production in Europe and Argentina.
According to Roose, speculative funds were not spooked by the reports