There were few changes in the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates (WASDE) report released last week. Corn and soybean supplies were left unchanged from the November report.
Strong demand for U.S. corn and soybeans was evident in the report, said Chad Hart, grain marketing economist with Iowa State University Extension and Outreach.
Corn use for sweeteners was increased 10 million bushels in the report. That lowered the 2014/15 ending stocks to just below 2 billion bushels. The projected corn price was unchanged at $3.20 to $3.80 per bushel.
Soybean exports were raised 40 million bushels to a record 1.76 billion bushels. "For soybeans, exports continue to lead...