The USDA raised its U.S. corn end stocks by 100 million bushels Friday to 1.835 billion.
Friday's World Agricultural Supply and Demand Estamites (WASDE) report also lowered soybean end stocks by 10 million bushels to 900 million, with final U.S. wheat end stocks coming in at 1.055 billion bushels.
Dan Basse is the president of Ag Resource Company in Chicago.
He notes the markets reacted bearish to corn and wheat, and were a little positive towards soybeans.
Basse talked about the key factor moving forward.
"U.S.-China trade is the driver here because if the United States gets $50 billion, which is the rumour, of additional export demand annually, that will change our markets quite dramatically," he said.
Basse says the changing weather around the world will also be a key factor in the markets going forward.