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USDA Releases April WASDE Report

The April World Ag Supply and Demand Estimates from USDA show both corn and soybeans with higher ending stocks. 

The 2019-2020 corn outlook calls for reduced imports, greater feed and residual use, lower food, seed, and industrial use, as well as larger ending stocks. 

Ending stocks were raised 200 million bushels to 2.092 billion. 

The season-average price for corn dropped 20 cents to $3.60 a bushel. 

U.S. soybean numbers show lower exports, seed use, residual use, higher crush, and higher ending stocks. 

Higher crush will only partly offset the other lower numbers, bringing projected ending stocks to 480 million bushels, 55 million bushels higher than last month. 

The season-average soybean price is forecast to drop five cents to $8.65 a bushel. 

The wheat outlook expects lower exports, reduced domestic use, and increased ending stocks. 

The forecast now expects ending stocks of 970 million bushels, up 55 million from the previous month. 

The season-average farm price for wheat is up by five cents a bushel to $4.60.


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