U.S. corn ending stocks for 2013/2014 are expected lower with a 150-million-bushel increase projected for corn exports, according to the U.S. Department of Agriculture’s monthly World Agricultural Supply and Demand Estimates (WASDE) report released February 10. “Global trade data and strong export sales support this month’s outlook for increased world corn imports. Reduced foreign export prospects also lower competition for U.S. corn in the world market. The season-average farm price for corn is raised US10￠ on both ends of the projected range to $4.20 to $4.80 per bushel. Season-average farm prices for the other feed grains are also projected slightly higher,” according to the USDA in the report. Meanwhile, U.S. soybean supplies are increased 5 million bushels to 3.46 billion on higher projected imports, mainly from Canada.
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