By Michael Deliberto, Ph.D.
LSU AgCenter
The WASDE’s March outlook for 2023/24 U.S. corn remains relative to last month. The season-average corn price for producers has been lowered to $4.75 per bushel based on observed prices to date.
The outlook for U.S. soybean supply and use for 2023/24 also remains unchanged for March. While soybean crush is unchanged, the soybean meal extraction rate has been bumped up slightly, and soybean meal exports are mostly higher due to lower domestic use. The U.S. season-average soybean price forecast stays unchanged at $12.65 per bushel.