*Significant changes are highlighted. ’13/’14 Corn o No changes ’14/’15 Corn o Food usage was increased 10 million bushels. o Ending stocks were projected at 1.998 billion bushels or 53.3 days of use which was near private estimates. ’13/’14 Soybeans o No changes ’14/’15 Soybeans o Exports were increased by 40 million bushels. o Ending stocks were projected unchanged at 410 million bushels or 41.0 days of use. This was average private estimates. Other Markets o Global oilseed production is projected at a record 530.7 million tons for the current market year which is up 1.8 million tons from last month on higher foreign production. o Global course grain production is projected up 1.1 million tons and near equal to last year’s record output. This only partially offset a 2.5 million ton increase in demand projections led by greater wheat and small grain usage in Europe. Click below for a downloadable pdf file. December ’14 USDA World Agriculture Supply and Demand Estimates