As expected, 2009 is going to provide us with another year of bumper crops. In their September Crop Production report the USDA is calling for a record soybean crop of 3.25 billion bushels and a near record corn crop of 13 billion bushels.

Despite the large numbers the USDA did not revise downward their price estimates for either corn or beans. The agency feels that both domestic and export numbers will be strong enough to just barely increase this years ending stocks.
The USDA is expecting an increase in corn usage for both feed and fuel use and they feel exports will pick up this marketing year as well.
As for the beans, the USDA feels demand will be strong, although they do warn of  competition on the export front from South America and Brazil in particular, which is expected to have a very strong production year.

For the 2009-2010 marketing year the USDA is projecting the price of corn to range between $3.05-3.60 a bushel,while soybeans are expected to price between $8.20-9.90 a bushel.