US Soybean Ending Stocks See Steep Reduction

US soybean ending stocks for 2024-25 are down sharply from last month, following a much bigger-than-expected cut to this year’s average yield projection.The USDA cut its national soy yield estimate to 51.7 bu/acre in updated monthly supply-demand estimates released Friday. That is down 1.4 bu from the October estimate and below the average pre-report trade guess of 52.8 bu, although still above last year’s average of 50.6 bu/acre.With planted and harvested area unchanged from October