May 12, 2021: Dairy Week In Review

USDA released its World Agricultural Supply and Demand Estimates report, supporting the need for higher feed prices. The report projected increasing supplies with higher yields and reduced  exports. With total U.S. corn supply rising and use declining, the report projected ending stocks up 250 million bushels from last year. The report projected the season average corn price at $5.70 per bushel, up $1.35 from a year ago when much of the crop was marketed at lower prices. Soybean exports are also expected to fall, down 205 million from 2020/21, while domestic use is expected to increase. Read More