USDA lowers U.S. corn, soybean ending stocks estimates

The USDA has tightened the domestic balance sheets for corn and soybeans, while raising wheat ending stocks slightly.

Corn came out at 1.44 billion bushels, down 100 million from February due to increased expectations for ethanol use and export demand. The average farm price is estimated at $5.65, up $.20.

Soybeans are seen at 285 million bushels, 40 million less than last month on a higher export projection. The average farm price is estimated at $13.25, $.25 higher.

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