U.S. corn, soybean crops projected larger
This month’s 2017/18 U.S. corn outlook is for larger supplies, greater feed and residual use and higher ending stocks, the U.S. Department of Agriculture (USDA) said in its World Agricultural Supply and Demand Estimates (WASDE) report last week.
Corn beginning stocks are raised 75 million bushels, reflecting lower feed and residual use in 2016/17 based on indicated disappearance during the first three quarters of the marketing year in the June grain stocks report.
Corn production for 2017/18 is projected 190 million bushels higher based on increased planted and harvested areas from the June acreage report. The national average corn yield is unchanged at 170.7 bushels per acre, the USDA said....
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