Chicago | Reuters—The U.S. Department of Agriculture lowered its U.S. corn supply forecast in a monthly supply-and-demand report on Friday and raised its outlook for U.S. exports of the grain this season to a record high following a strong pace of overseas shipments.
U.S. corn ending stocks for the 2024/25 old-crop marketing year were projected at 1.340 billion bushels, down from a forecast for 1.365 billion bushels a month ago and below the average analyst estimate for 1.353 billion bushels. The agency’s corn export view was raised to a record 2.750 billion bushels, from 2.650 billion bushels a month ago, according to USDA data.
The USDA’s old-crop U.S. soybean stocks forecast held unchanged at 350 million bushels, below the average trade estimate of 358 million bushels.
