Corn futures slip as ending stocks run 47% above average.

Soybean futures held mostly steady to open the week, trading sideways as solid export volume matched USDA estimates to offset a 16% jump in U.S. ending stocks. In the corn market, futures declined under the weight of an inventory glut, with ending stocks running 47% higher than the five-year average, prompting a heavy migration of options toward the December contract. Wheat futures also faced downward pressure as beneficial rain fell across winter wheat areas in the Plains and eastern Midwest, compounded by export commitments lagging 21% behind last year's pace.