July WASDE

The USDA has released its July World Agricultural Supply and Demand Estimates.

Projected 2013/14 U.S. feed grain supplies are lowered this month with
reduced beginning stocks for corn and sorghum and lower forecast harvested areas for corn and
sorghum. Corn beginning stocks for 2013/14 are projected 40 million
bushels lower.

Projected U.S. wheat supplies for 2013/14 are raised slightly this month with lower
beginning stocks more than offset by higher production.

Stay tuned for a breakdown of the report on Friday morning at 8:10 a.m. with Ted Seifred of the Zaner Group on AM 730 KWOA. For the full WASDE report, visit
http://www.usda.gov/oce/commodity/wasde/latest.pdf

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