Adjustments to U.S. corn, soybean, and production estimates lead to changes for ending stocks estimates.

New crop U.S. corn ending stocks are now expected to be 1.242 billion bushels, down 190 million from July, with a cut in production and higher food, seed, and industrial use cancelling out bigger beginning stocks and expectations for lower feed and export demand. The average farm price is seen at $5.75 per bushel, compared to $5.60 a month ago and the old crop estimate of $4.40.

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