(NAFB) – The Department of Agriculture Wednesday Issued the latest Monthly World Agricultural Supply and Demand report. This month’s corn outlook is for fractionally higher supplies and ending stocks.

Corn production is forecast up 55 million bushels as greater planted and harvested area from the June 30 Acreage report is partially offset by a four-bushel reduction in yield to 177.5 bushels per acre. The season-average farm price is unchanged at $4.80 per bushel.

Oilseed production is projected at 127.6 million tons, down 5.6 million from last month. Harvested area, forecast at 83.5 million acres in the June 30 Acreage report, is down four million from last month. The season-average soybean price is forecast at $12.40 per bushel, up $0.30 from last month.

Changes this month to the wheat outlook increase supplies and domestic use, leave exports unchanged, and increase ending stocks. The projected season-average farm price is forecast at $7.50 per bushel, down $0.20 from last month.