“Today’s USDA report was friendly for grains across the board. The soybean yield was unchanged from last month at 53 bpa, while production was slightly increased to 4.475 billion bushels. 25.26 ending stocks were lowered by 10 mb to 330 mb, which was the most friendly part of the report,” Brill said. “2026-27 ending stocks were unchanged at 310 mb. World ending stocks were reduced by 0.71 mmt to 124.17 mmt. Brazilian and Argentinian production were both unchanged at 180 mmt and 50 mmt respectively. USDA reported a sale of 264,000 metric tons of soybeans to China for the 2026-27 marketing year. Chinese purchases are encouraging, but the 25 mmt. China pledged to buy from the U.S. is already factored into the USDA export estimates and they would likely need to exceed 25 mmt to dent the ending stocks number.”