This month’s World Agricultural Supply and Demand Estimates, which USDA released on Tuesday, shows no change from last month's report in terms of the U.S. corn stock-to-use ratio.

The agency increased its estimate of sorghum use by 40 million bushels, primarily due to ethanol plants in the Southern and Central Plains using more sorghum. Those prices continue to run well below corn price in the Southern and Central Plains, and supplies are plentiful.

The projected season-average, farm-price range for corn has narrowed by 10 cents on each end of the range to $3.65 to $4.15 per bushel.  The price range for sorghum is narrowed 15 cents on each end to $3.05 to $3.35 per bushel.

For more, click here.