Wheat
U.S. wheat supplies for 2014 to '15 are down 10 million bushels, based on updated production estimates for the states resurveyed following the Sept. 30 small grains report. Adjustments to production in these states, where significant acreage had not been harvested in early September, lowers production estimates for hard red spring wheat and durum. The change results in corresponding decreases in ending stocks. The projected range for the 2014 to '15 season-average farm price narrowed 10 cents on both the high and low end to $5.65 to $6.15 per bushel.
Corn
U.S. feed grain production for 2014 to '15 is down this month, as lower corn, barley and oats output more than offsets a small increase for sorghum. Corn production is forecast 68 million bushels lower, still a record at 14,407 million bushels. The national average corn yield declined 0.8 bushels per acre to 173.4 bushels. Small decreases in barley and oats production reflect the resurvey of producers who reported unharvested acreage in early September for the small grains report. Sorghum production is up 4 million bushels with a higher forecast yield.
Soybeans
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U.S. oilseed production for 2014 to '15 is projected at 117.2 million tons, up 0.9 million from last month on increased soybean, peanut and cottonseed production. Soybean production is forecast at 3,958 million bushels, up 31 million on higher yields. The soybean yield is projected at a record 47.5 bushels per acre, up 0.4 bushels mainly on gains for Iowa and South Dakota. Soybean supplies for 2014 to '15 are projected 1 percent above the October forecast.
