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Little Market Change in World Supply Report
IOWA -- The World Agriculture Supply and Demand (WASDE) report is out from the USDA and supplies were a bit more than trade expectations. The U.S. corn outlook shows lower feed and residual use, lower corn used for ethanol and exports, and bigger stocks. Export numbers are down 75 million bushels to 2.3 billion. Ending stocks are up 200 million bushels to just over two billion with supply unchanged and lower use.