The US Department of Agriculture on Monday cut its estimate of US ending stocks of soyabeans but the reduction was less than analysts were expecting and futures fell sharply.
The government's forecast of the size of soyabean crops in Brazil and Argentina also came in above the average of analysts' expectations. USDA trimmed its forecast for old-crop corn ending stocks but left its outlook for domestic wheat stockpiles unchanged. Both corn and wheat ending stocks came in lower than market expectations.
