The November World Agricultural Supply and Demand Estimates (WASDE) raised projected ending stocks in 2017/18 by 78,000 short tons, raw value (STRV), as higher inventories were reported by processors heading into the year. Projected domestic deliveries for food and beverage use in 2017/18 are reduced 123,000 STRV, as reported deliveries in 2016/17 are estimated at 12.130 million STRV, which is 70,000 STRV lower than the previous month’s estimate but still 2.1 percent higher than 2015/16.