The Department of Agriculture projects higher corn ending stocks, which would be the second largest on record behind 2016/17, in this month’s World Agriculture Supply and Demand report.

Traders saw very few if any surprises in USDA’s World Agriculture Supply and Demand Report released Friday and will eye weather as the next potential market mover.

China agreed to buy an additional 10 million metric tons of U.S. soybeans as negotiators from both countries agreed to extend the latest round of trade talks to go through the weekend, a sign that significant progress is being made to end the trade war, President Donald Trump said Friday.

USDA economists expect farmers to increase plantings of corn this spring while reducing their soybean production as the Trump administration's ongoing trade war with China remains unsettled. Record amounts of meat and milk production are projected.