USDA issued its annual, departmental consensus, ten-year outlook for U.S. agriculture that may be viewed as the winners and losers for the decade ahead. With little surprise, the one commodity without a relative blemish looking forward continues to be soybeans. By contrast, sorghum racks up the most negative indicators and especially in the critical category of change in net returns per acre.  Corn keeps pace with soybeans from the standpoint of having a larger potential growth in exports, better yield growth and a larger reduction in variable costs per acre. However, whereas corn stocks continue to grow, and price takes a double-digit decline, soybean stocks continue shrinking, planted area expands and net returns continue to enlarge...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, North America