The U.S. Department of Agriculture’s latest World Agriculture Supply and Demand Estimates (WASDE) report released Friday offered no changes to U.S. corn ending stocks and increased the ending stocks estimate for soybeans. USDA increased soybean ending stocks for new crop soybeans to 495 million bushels, up from 480 million last month, and left new-crop corn ending stocks unchanged at 2.1 billion bushels. The season average corn price estimate received by producers is unchanged from last month at $3.00 to $3.80 per bushel. The season-average price for soybeans was forecasted at $8.30 to $10.30 per bushel, and the season-average farm price for wheat is projected at $3.90 to $4.70 per bushel, up five cents from the latest report. USDA will release its U.S. acreage and grain stocks reports on June 30th.
From the National Association of Farm Broadcasting News Service.
For the latest monthly World Agricultural Supply and Demand Estimates (WASDE) report, click here.