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Higher Ending Stocks Reduce U-S Grain Price Forecasts

The USDA has lowered it's forecast season-average farm price for wheat, corn and soybeans.

The department now expect the season average farm price for wheat to be between $4.65 and $5.55 a bushel - down 10 cents on the low and and 20 cents on the high end.

It's corn price forecast ranges from $3.35 to $3.95 a bushel - 10 cents lower at both ends.

And the USDA's soybean price is now forecast at $8.40-$9.90 a bushel, down 10 cents at the midpoint from last month.

The department has raised it's U-S wheat ending stocks by 8 million bushels, corn by 114 million bushels and soybeans by 45 million bushels from last month.

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