WASDE Update Doesn’t Change Analyst’s View for 2014

USDA raised its estimates of corn and wheat ending stocks, but cut its soybean forecast with its September 12 World Agricultural Supply Demand Estimates report. At the same time, the ag agency lowered the midpoint of its corn price forecast to $4.80 per bushel, with the price range dropped to $4.40-$5.20 a bushel from previous estimates $4.50-$5.30.

Soybean prices saw a significant increase of $1.15 to $12.50 per bushel. USDA narrowed its wheat forecast to…

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