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USDA UPDATES ITS PRICE FORECASTS
National Association of Wheat Growers (NAWG) reports:

The annual USDA Agricultural Outlook Forum is being held today just outside of the district in Arlington, Va.

Chief Economist at USDA, Joe Glauber, opened up the forum announcing adjustments to the short-term forecasts for corn, soybeans, wheat, rice and cotton.

They are as follows:

*$3.90 a bushel for corn (from an estimated $4.50 for the 2013 crop);

*$9.65 a bushel for soybeans (down from $12.70);

*$5.30 a bushel for wheat (down from $6.80);

*$15.90 per hundredweight for rice (down from $16); and

*68 cents per pound for cotton (down from 76 cents).

Dr. Glauber also stated that U.S. agriculture exports are estimated at $142.6 billion for fiscal year 2014.

For more information on the Agricultural Outlook Forum, visit USDA's website at http://www.usda.gov/oce/forum/ .


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