The June World Ag Supply and Demand Estimate report says the 2020-2021 U.S. corn outlook hasn’t changed much from last month. Beginning stocks are higher, as a reduction in corn production for 2019-2020 is largely offset by a reduction in projected corn use for ethanol. Planted acres stayed at 97 million, projected corn yield is at 178.5 bushels per acre, and production is forecast at 15.9 billion bushels. Ending stocks are projected to be five million bushels higher at 3.3 billion bushels, with the season-average farm price at $3.20 per bushel. USDA says soybean production was left at 4.1 billion bushels, with a yield at 49.8 bushels per acre and planted acres at 83.5 million. New crop ending stocks were predicted at 395 million bushels, a lower-than-expected drop. The farm-gate new-crop soybean price was set at $8.20 per bushel. 2020-2021 wheat supplies are up on a larger crop and slight increase in beginning stocks. Total wheat production for 2020-21 is 1.877 million bushels, with total supplies up 16 million bushels to three billion. Ending stocks were raised 16 million bushels to 925 million, which is a six-year-low.