In the supply/demand report, USDA made no changes in the U.S. corn and soybean supply. Domestic wheat stocks were cut 40 million bushels to 974 million, the lowest in five years. U.S. wheat exports are forecast to increase 25 million bushels with spring wheat, winter wheat and durum all seeing a stronger export pace for the year ahead. The seasonal average price for wheat was lowered by five cents to $4.55 per bushel. The average farmgate price for corn was left unchanged at $3.84 per bushel. The average soybean price for the year is estimated at $8.85 per bushel, down 15 cents from last month.
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