The monthly World Agriculture Supply and Demand Report Tuesday offered little change to Department of Agriculture forecasts.
This month’s 2019/2020 U.S. corn supply and use outlook is unchanged relative to last month.
The season-average corn price received by producers was lowered five cents to $3.80 per bushel based on observed prices to date.
U.S. soybean supply and use projections for 2019/2020 are mostly unchanged this month, as well.
With soybean crush and exports projected at 2.1 billion bushels and 1.8 billion bushels, respectively, ending stocks remain at 425 million bushels, down 484 million from last year’s record.
The U.S. season-average soybean price is projected at $8.70 per bushel, down five cents.
Finally, the 2019/2020 U.S. wheat supply and demand outlook is unchanged this month.
The projected season-average farm price is also unchanged at $4.55 per bushel.
The report followed Monday’s market plunge on coronavirus fears and large cuts to oil prices, which drug farm commodity prices lower, as well.
However, farm prices and Wall Street mostly regained some ground Tuesday.