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Forecast for corn, soybean stocks lowered in report

The U.S. Department of Agriculture (USDA) World Agri­cul­tu­ral Supply and De­­mand Estimates (WASDE) last week lowered estimates for U.S. corn ending stocks by 125 million bushels. The USDA raised the midpoint for the season average price by 10 cents while narrowing the range to $4.40-$4.80 per bushel. U.S. soybean stocks were also lowered 10 million bushels from last month, and prices increased to $12.50-$13.50 per bushel.

Corn exports were projected 125 million bushels higher on stronger world imports and the rising pace of shipments in recent weeks, the USDA said.

Soybean exports were increased 50 million bushels to 1.58 billion bushels, reflecting record year-to-date shipments and large outstanding sales.

Soybean crush was...



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