Corn: The USDA Supply/Demand report pegged the 2009/20 US corn ending stocks at 1.799 billion bushels as compared with 1.719 billion last month and 1.673 last year.  Traders expected ending stocks near unchanged.  Exports were revised lower by 100 million bushels and other usage numbers left unchanged.  The average yield was revised down to 164.9 bu/ac which adjusted the production down to 13.131 billion bushels.  There was also a 100 million bushel drop in demand with the net result an 80 million bushel increase in ending stocks.  World production shot up 5.86 million tonnes led by Argentina which resulted in an overall increase in world ending stocks.
Soybeans: The USDA pegged the 2009/10 soybean ending stocks at 190 million bushels as compared with 210 million bushels last month and 138 million bushels last year. Exports were revised higher by 20 million bushels and crush up by 10 million.  The USDA pegged Brazil production at 67 million tonnes as compared with 57 million last year.  World ending stocks are now expeted to reach 60.67 million tonnes as compared with 59.73 million tonnes last month and 42.02 million tonnes last year.
Wheat: US ending wheat stocks for 2009/10 were raised 20 million bushels to 1.001 billion bushels from 981 million in February.  This came on a 20 million bushel reduction in projected food use in the US. Soft Red ending stocks were raised by another 4 million bushels to a burdensome 207 million.  World ending stocks were raised to 196.77 million tonnes from 195.86 million in Feb.