USDA’s new crop corn outlook is for larger supplies and a boost in ending stocks. USDA raised 2022 beginning stocks by 25 million bushels on reduced feed and residual use. New crop corn production is raised 45 million bushels on higher planted and harvested acreage resulting in a 70 million bushel increase in carryout. The season average farm price is estimated to be down 10 cents per bushel to $6.65 per bushel.
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