Corn fell while soybeans and wheat were mixed in the US

Soybeans were mixed on bull spreading. The USDA lowered U.S. ending stocks 15 million bushels to 210 million, with a cut in crush canceled out by higher exports and the department reduced the crop estimate for Argentina because of ongoing drought. Argentina’s crop is now seen at 33 million tons, 8 million less than the February estimate, which pulled global production lower. The USDA also lowered exports by Argentina and raised the import projection as Argentine crushers try to meet customer demand. Argentina’s usually the world’s largest exporter of soybean products. Brazil’s exports were up slightly on the month and there were no changes to imports by China, but the crush guess was down slightly. The big focus continues to be the harvest of Brazil’s record crop, which is about 50% complete. A representative from Oil World told a conference this week world vegetable oil supplies are expected to get much tighter during the second half of 2023 because of production not meeting ...