The June World Ag Supply and Demand Estimates Report says the 2024-2025 U.S. corn outlook is unchanged relative to last month. The season-average price received by producers remains at $4.40 a bushel.
USDA will release its Acreage Report on June 28, which will provide survey-based indications of planted and harvested areas.
The soybean outlook includes higher beginning and ending stocks. With increased supplies and no use changes, soybean ending stocks are predicted at 455 million bushels, up by 10 million. The soybean price is forecast at $11.20 per bushel, unchanged from last month.
The June wheat outlook is for larger supplies, unchanged domestic use, increased exports, and lower stocks. Supplies are raised as wheat production is forecast at 1.875 billion bushels, up by 17 million from last month. Ending stocks are lowered slightly from last month but still significantly higher than last year at 758 million bushels. The season-average price is $6.50.
