They cut corn production 124 (lowered yield 1.5 bpa to 154.3) they moved 100 from Feed to Ethanol and reduced exports by 50 for a net reduction to stocks of 75.

In the beanies.. they cut production 33 (lowered the yield by 0.5) .. returned 3 from residual added 50 to exports.. for a net reduction of 80 to the bottom line.

On the Wheaties they cut production by 15.. after rounding..(reduced yield by 0.30) added 10 to imports resulting in a 5 ml bu cut to stocks.

All in all.. looks "reasonable to me."

Tight Stocks on the beanies.. very tight on Corn.. Wheat.. not so much.. Corn must/has priced itself out of export market.. Beanies.. ???  dependent upon SAm production at some point.. Wheat.. needs a rain to sustain stocks.

The pressure is going to be on this next year.. farmers need to come through with big crops.. especially Corn/Beans.