USDA Lowers U-S Corn Ending Stocks Forecast
The USDA has boosted it’s expected wheat and soybean ending stocks for 2013-14, and dropped how much corn it expects to be on hand.
The department’s latest World Agricultural Supply and Demand Estimates report says wheat stocks will be 25 million bushels higher than last month’s estimate.
That’s based on lower imports being more than offset by a reduction in feed and residual use.
Soybean supplies are now expected to be 3 point 49 billion bushels – up 30 million.
That’s based on higher imports.
And the U-S corn stocks at the end of 2013-14 are have been lowered by 125 million bushels, based on an increase in projected corn exports this year.