WASDE: Second lowest ending soybean stocks
Monday's World Agricultural Supply and Demand Estimates (WASDE) report gave way to the second lowest ending soybean stocks on record since 1976 at 145 million bushels, down 5 million bushels from last month.
"U.S. soybean supply and use projections for 2013/14 include higher imports and exports, reduced crush, and reduced ending stocks compared with last month’s report," according to Monday's report.
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When it comes to prices, "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," says Monday's report.