The monthly World Agriculture Supply and Demand Estimates report by the Department of Agriculture released Wednesday predicts a U.S. corn crop of 14.06 billion bushels, down 1.08 billion from last year. The monthly report is also projecting a U.S. soybean crop of 4.25 billion bushels, down from the 4.3-billion-bushel crop last year. USDA projects ending stocks for new crop corn at 2.11 bushels, and at 480 million bushels for soybeans.
For the nation’s wheat crop, USDA lowered expected production to 1.25 billion bushels, down 25 percent from last year. Those numbers, however, do not reflect the recent damages to the winter wheat crop in Kansas and other states.
Source: NAFB News Service