Feed Outlook, March 2020 (summary)
Few Balance Sheet Changes for 2019/20
Improved sorghum export prospects resulted in lower feed and residual and ending stocks, the only changes to the feed grain balance sheets this month. Both the corn and sorghum season average price received by farmers were lowered $0.05 per bushel to $3.80 and $3.30 respectively based on prices observed to date.
Both corn and sorghum trade are projected higher, while trade in barley is reduced. Three foreign corn exporters—Argentina, Ukraine, and South Africa—see their corn exports grow. Projected U.S. 2019/20 corn exports are left unchanged this month.