The January WADE report showed U.S. corn Quarterly grain stocks come in within expectation to 11.21bil bu vs market expectation of 11.237bil bu. U.S. corn production estimate came in at 13.601bil bu vs exp 13.646 and vs Novembers estimate of 13.654 whilst the U.S. corn yield estimate came in at 168.44bu/acre vs trade expectation of 169.2bu/acre and vs Novembers estimate of 169.3. U.S. corn ending stocks increased slightly to 1.802bil bu and vs trade expectation of 1.785bil bu and vs December estimate of 1.785bil bu. Estimate for Argentine corn production came in at 25.6mil t and vs the average trade expectation of 25.64 and vs the December estimate of 25.6 whilst Brazil’s corn production came in at 81.5mil t and vs the average trade expectation of 81.33 and vs the December estimate of 81.5.