US wheat stocks higher, Indonesia world’s biggest buyer.

Markets fell in the wake of a bearish WASDE, with higher US ending stocks and lower exports weighing further on a market which fundamentally remains well-supplied around the world. US domestic ending stocks just about scraped in at the upper end of a range of analysts’ expectations prior to the release and 2% above the average guess, increasing to 1.01 billion bushels from 989 million bushels. Lower exports estimates were the primary driver of higher carryover stocks, with the USDA expecting foreign sales 680,000 mt lower than in January at 25.86 million mt.