The USDA has left the ending stocks for US corn unchanged, tightened soybean supplies, and raised wheat supplies.

Corn came out at 1.44 billion bushels, unchanged from March.  USDA did move 25 million bushels from feed use to ethanol use.  The average farm price is estimated at $5.80, up $.15.

Soybeans are seen at 260 million bushels, 25 million less than last month on higher export projections.
The average farm price is estimated at $13.25, unchanged from March.

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