-USDA lowered US corn carryout due to higher ethanol use. CH is up 2 cents

-USDA raised US soybean and wheat carryout due to lower exports. SH is down 3 cents, WH is down 1 cent

-USDA left Brazil and Argentina corn and soybean crop est unchanged.  

-USDA raised World wheat end stocks due to a higher Canada crop est.

December U.S. Carryout (million bushels) 2017-18

                         USDA     Average      Range      USDA Nov.   USDA 2016

Corn                  2,437       2,477   2,363-2,519     2,487           2,295

Soybeans         445          445       425-491           425              301

Wheat               960          941       925-987           935              1,181

December World Stockpiles (million metric tons) 2017-18

                        USDA       Average      Range        USDA Nov

Corn                 204.1        202.7     195.7-205.0       203.9

Soybeans         98.3          97.8        95.2-99.0           97.9

Wheat               268.4       266.3      264.0-269.0       267.5