USDA lowered domestic corn and soybean ending stocks and raises wheat ending stocks in Wednesday’s March supply and demand report. Corn stocks are estimated at 1.44 billion bushels, soybean supplies at 285 million bushels and wheat ending stocks are pegged at 653 million bushels. The season average farm-gate price for new crop corn is increased 20 cents to $5.65 per bushel. The season average price for new crop soybeans is estimated at $13.25 per bushel, up from $13 last month. The season average price for new crop wheat is estimated at $7.50, 20 cents more than the February supply and demand report.
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