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Published March 17, 2014, 09:53 AM

WASDE report projects soybean exports up

There are no changes to the 2013 to ’14 U.S. all wheat supply and use projections this month. A 15 million bushel increase in projected hard red spring wheat exports is offset by a decrease for soft red winter wheat, with both changes reflecting the pace of sales and shipments. Projected ending stocks for both classes are adjusted accordingly. The projected season-average farm price for all wheat is up 10 cents on the bottom end of the range to $6.75 to $6.95 per bushel based on recent strength in prices.

By: U.S. Department of Agriculture,

Wheat

There are no changes to the 2013 to ’14 U.S. all wheat supply and use projections this month. A 15 million bushel increase in projected hard red spring wheat exports is offset by a decrease for soft red winter wheat, with both changes reflecting the pace of sales and shipments. Projected ending stocks for both classes are adjusted accordingly. The projected season-average farm price for all wheat is up 10 cents on the bottom end of the range to $6.75 to $6.95 per bushel based on recent strength in prices.

Corn, barley and oats

Projected U.S. feed grain ending stocks for 2013 to ’14 are reduced with higher corn exports and lower oats imports. Corn exports are projected 25 million bushels higher on stronger world imports and the rising pace of shipments in recent weeks. Continued strong export sales also support the higher figure. Projected corn ending stocks are down 25 million bushels. Oats imports are projected 10 million bushels lower as Canadian logistical problems reduce the availability of importable supplies. Small reductions in U.S. oats domestic use and ending stocks are projected. The season-average farm price for corn is narrowed 5 cents on both ends of the projected range to $4.25 to $4.75 per bushel. Price ranges are similarly narrowed for sorghum and oats. The barley farm price is up 10 cents on the low end of the range to $5.95 to $6.25 per bushel based on recently higher reported prices for feed barley.

Soybeans

U.S. soybean supply and use projections for 2013 to ’14 include higher imports and exports, reduced crush and reduced ending stocks compared with last month’s report. Soybean exports are up 20 million bushels to a record 1.53 billion, reflecting continued strong sales and shipments through February. Soybean crush is down 10 million bushels to 1.69 billion, reflecting weaker-than-expected domestic soybean meal use through the first quarter of the marketing year. Soybean stocks are projected at 145 million bushels, down 5 million from last month. Soybean oil stocks are reduced on lower production and increased exports. Other soybean oil changes include reduced use for biodiesel and an offsetting increase for food, feed and other industrial use.

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