USDA Monthly WASDE update

The monthly WASDE provided support to the bean market on lower old crop and new crop ending stocks. USDA increased old crop exports by 50 mb, reducing ending stocks by a like amount, and in setting new crop exports at 2.6 bb, dropped the first 25/26 ending stocks estimate 220 mb from the avg est. to 1.8 bb. Both US and Global wheat stocks grew on higher production and lower use.