USDA October WASDE report shows higher-than-expected ending stocks for corn, soybeans, wheat, and cotton. Corn stocks at 1.849 billion bushels vs 1.695B estimate. Soybeans at 315M vs 306M. Wheat at 740M vs 720M. Cotton at 3.80M bales vs 3.50M. The larger supply estimates are bearish for grain and cotton prices.
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