The USDA released its September World Agricultural Supply and Demand Estimates (WASDE) report Tuesday.
The U.S. 2017/18 wheat supply and demand estimates were unchanged from last month.
Global wheat supplies for 2017/18 were lowered thanks to a 2.7-million-ton decrease in beginning stocks.
U.S. corn production is forecast at 14.184 billion bushels, up 32 million from last month.
Global coarse grain production for 2017/18 is forecast up 2.4 million tons to 1,316.5 million.
U.S. soybean production is projected at a record 4,431 million bushels, up 50 million on a higher yield forecast.