The January WASDE incorporates data from the December 1 Grain Stocks report and the final January Annual Crop Production Report. Based on these reports, 2015/16 corn production is reduced 53 million bushels due to a lower estimated yield of 168.4. Imports were raised 10 million bushels while exports were lowered 50 million bushels. Corn used for sweeteners was lowered 10 million bushels while corn for ethanol was unchanged. Ending stocks were raised 17 million bushels to 1.802 billion bushels and average farm price was lowered $0.05 to $3.60 per bushel.
Soybean production was lowered 51 million bushels based on 600,000 fewer harvested acres and a lower yield of 48 bushels per acre. Exports were lowered 25 million bushels and ending stocks were lowered 25 million bushels to 440 million bushels. Average farm price was lowered $0.15 to $8.75 per bushel.
Wheat imports were lowered 5 million bushels while feed, seed and residual was lowered a total of 36 million bushels. Feed use alone was lowered 30 million bushels based on the December 1 stocks report. Ending stocks were raised 30 million bushels and average farm price was unchanged at $5.00 per bushel, however the range was reduced $0.10 on each end.
 Bill Holbrook
The ProExporter Network
20809 NE 170th Street
Kearney, MO 64060
Telephone: 816-863-5335
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