According to the USDA Feed Outlook June Report:
- Corn ending stocks for the 2022/23 and 2023/24 marketing years are raised this month, due to lower estimated corn exports for 2022/23.
- The reduction in corn exports was partially offset by a reduction in corn imports during the current marketing year.
- The projection of production and use for all feed grains during the 2023/24 marketing year remains unchanged.
- Feed grain supply moves up slightly for 2023/24 to 444 million tons on higher beginning stocks.