*Significant changes are highlighted ’13/’14 Corn o No significant changes. ’14/’15 Corn o Feed and residual usage was increased while ethanol grind decreased netting no change in usage. o Exports were increased 50 million bushels. o Ending stocks were projected at 1.777 billion bushels or 47.4 days of use which was a little below private estimates. ’13/’14 Soybeans o No significant changes. ’14/’15 Soybeans o No significant changes. o Ending stocks were projected unchanged at 385 million bushels or 38.0 days of use. This was a little above average private estimates. Other Markets o Global grain production was revised marginally lower but beginning stocks and total use increased by a total of 5 million mTs or about 195 million bushels leaving ending stocks accordingly lower. o Pork and poultry production for 2015 are revised higher but were more than offset by lower beef output. o Milk production is revised slightly lower for 2015 on less milk per cow. o Exports of meat and dairy trade are revised lower in the face of a strong dollar. Click below for a downloadable pdf file. March ’15 USDA World Agriculture Supply and Demand Estimates