This year’s corn crop is forecast to yield 13.63 billion bushels, but it won’t be a record crop, the U.S. Department of Agriculture (USDA) said in its World Agricultural Supply and Demand Estimates (WASDE) re­­port last week.

The 13.63-billion-bushel projection would be 4 percent below last year’s record, the report said.

Corn beginning stocks for 2015/16 were raised in the report with a 25-million-bushel reduction in the 2014/15 forecast for corn use in ethanol production. Corn ending stocks for 2015/16 were projected at 1.77 billion bushels, up 25 million bushels, according to the USDA.

The range for the 2015/16 season-average farm price was unchanged at $3.20 to $3.80 per bushel, compared with the 2014/15 range of...