Corn and soybean futures moved lower after USDA raised its estimates for South American corn and soybean crops. While increases had been expected, the corn numbers were on the high side of trade estimates. While the soybeans numbers there were about as expected, they were still big.

U.S. ending stocks were raised for soybeans and wheat while corn was unchanged.

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Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

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