*Significant changes are highlighted ’14/’15 Corn • No change ’15/’16 Corn • Feed and residual usage declined by 50 million offset in part by 25 million increased ethanol usage. • Ending stocks at 1.862 billion bushels or 50 days of use was slightly above private estimates. ’14/’15 Soybeans • No change ’15/’16 Soybeans • Exports were bumped up by 15 million on stronger sales to date. • Ending stocks at 445 million bushels or 43.8 days of use was near private estimates. ’14/’15 Wheat • No change ’15/’16 Wheat • Feed and residual usage was reduced by 10 million bushels based on recent stocks surveying. • Ending stocks at 976 million bushels or 182.9 days of use was near private estimates. Other Markets • World wheat, corn, and soybean ending stocks moved slightly higher on mainly small reductions in demand. All three are projected to reach record ending stocks but show smaller increases than in prior years. • US meat production is projected modestly higher led by higher beef output. Growth in chicken and a sharp rebound in turkey production will also add to supplies available. Click below for a downloadable pdf. April ’16 USDA World Agriculture Supply and Demand Estimates