Looking at the most recent 2024-2025 World Agricultural Supply and
Demand Estimates projections, corn production remained at 14.87 million
billion bushels. The USDA decreased expected feed use by 25 billion bushels
and bumped up export projections by 100 million bushels. This resulted in
ending stocks falling to 1.465 billion bushels, a significantly larger decline
than previously expected. However, the average farm price for corn stayed
the same at $4.35 per bushel.