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USDA Lowers Expected Season-Average U-S Wheat Prices For 15-16

The USDA has boosted it's projected 2015-16 ending stocks for wheat by 21 million bushels.

The new estimate of 814 million would be the largest ending stocks for the U-S since the 2010-11 crop year.

The department is predicting the season-average farm price will be 10 cents lower for 15-16 at between 4.40 and 5.40 a bushel.

It's projected season average farm price for U-S corn is unchanged at from 3.20 to 3.80 a bushel, with a 25 million bushel increase in expected 2015-16 ending stocks.

U-S soybean ending stocks for 15-16 are down 20 million from last month's forecast.

The USDA says the season average 2015-16 price for soybeans will be the same as forecast last month - at between 8.25 and 9.75 a bushel.

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