WASHINGTON — Projected new-crop season-average farm prices for corn and soybeans were left unchanged, while ending stocks were above trade expectations in the world agricultural supply-demand report released July 11.

The U.S. Department of Agriculture projected the 2013-2014 season-average corn price range at $4.40 to $5.20 per bushel, the same as last month.

The new-crop season-average soybean price is forecast at $9.75 to $11.75 per bushel, matching last month, as well.

Soybean product price projections also were unchanged, with soybean meal prices forecast at $290 to $330 per short ton and soybean oil prices forecast at 47 to 51 cents per pound.

U.S. corn and soybean yields also were left unchanged from June at 156.5 and 44.5 bushels per acre, respectively. Any adjustments will be made next month, based on survey results.

Corn yield estimates in the July 2012 report averaged 123.4 bushels per acre, and soybeans were 39.6 bushels.

Wheat’s projected range for the 2013-2014 season-average farm price is raised 20 cents on both ends to $6.45 to $7.75 per bushel. At the $7.20-per-bushel midpoint, this would be down from the record $7.77 per bushel reported for 2012-2013.

Projected 2013-2014 U.S. feed grain supplies were lowered this month with reduced beginning stocks for corn and sorghum and lower forecast harvested areas for corn and sorghum from the last month’s acreage report.

Corn beginning stocks for 2013-2014 are projected 40 million bushels lower. Corn production for 2013-2014 was lowered 55 million bushels with the lower harvested area and the projected yield unchanged.

Projected production remains just below 14 billion bushels and would be 858 million above the record in 2009-2010.

Corn supplies for 2013-2014 were lowered 90 million bushels as a 5-million-bushel increase in imports only partly offsets the lower beginning stocks and production.

This month’s changes to corn use for 2012-2013 and 2013-2014 largely reflect the lateness of the 2013 crop and expectations for extremely tight supplies later this summer and into early fall.

Feed and residual disappearance for 2012-2013 was raised 50 million bushels as early harvest of new-crop corn is expected to be sharply reduced from last year.

A 10-million-bushel increase in projected imports for 2012-2013 also reflects the tight supply situation expected for old-crop corn during the summer quarter.

Imports for 2013-2014 were raised because the tight supply situation is expected to continue into September.

The USDA lowered feed and residual use for 2013-2014 by 50 million bushels with tighter beginning stocks and lower production and also on the lack of early new-crop usage, which tends to boost indicated disappearance during the September-December quarter of the new marketing year.

Projected exports for 2013-2014 were lowered 50 million bushels as tight supplies of corn in early September are expected to limit early-season shipments.

With lower projected use in 2013-2014, ending stocks were raised 10 million bushels and remain just under 2 billion bushels.

Global coarse grain supplies for 2013-2014 are projected 3.6 million tons lower with 2.9 million tons of the decline resulting from the tighter supply situation for corn and sorghum in the U.S. Foreign coarse grain supply and use changes this month are relatively small in the aggregate.

The USDA lowered corn beginning stocks for 2013-2014 for Brazil with higher 2012-2013 exports and for Indonesia with lower 2012-2013 production.

China corn production for 2013-2014 was reduced by 1 million tons on lower indicated area. European Union corn production was increased 1.8 million tons when adjusted for this month’s inclusion of Croatia, but last month’s 27-member union is lowered 0.4 million tons.

Global 2013-2014 coarse grain trade is mostly unchanged this month with exports down slightly on the reduction for U.S. corn. Global corn consumption is down 2.6 million tons with half of the reduction in the U.S.

Global corn ending stocks for 2013-2014 are projected at 151.0 million tons, down 0.9 million, with reductions for Brazil and China. World corn stocks are expected to be the highest since 2001-2002.

USDA projected U.S. oilseed production for 2013-2014 at 100.9 million tons, up 0.2 million from last month, with increased soybean production mostly offset by reductions for other oilseeds.

Soybean production was projected at 3.42 billion bushels, up 30 million due to increased harvested area.

Harvested area, estimated at 76.9 million acres in the June 28 acreage report, is 0.7 million above the June projection.

Soybean supplies are 30 million bushels above last month’s forecast, reflecting the production change.

With projections for exports and crush unchanged, 2013-2014 soybean ending stocks were raised 30 million bushels to 295 million. U.S. soybean supply and use projections for 2012-2013 were unchanged.

Global oilseed production for 2013-2014 is projected at 492.9 million tons, up 2.1 million from last month. Higher forecasts for soybeans, rapeseed, cottonseed and peanuts are only partly offset by reductions for sunflower seed.

Global soybean production is projected at 285.9 million tons, up 0.6 million with gains for the U.S., China and Canada only partly offset by reductions for Argentina and Russia.

Argentina soybean production was reduced due to a lower harvested area estimate for both 2012-2013 and 2013-2014. Brazil soybean production for this year was unchanged from last month at 85 million tons.

Rapeseed production for Canada is projected at 15 million tons, up 0.5 million based on increased area consistent with the latest survey results reported by Statistics Canada.

Projected U.S. wheat supplies for 2013-2014 were raised slightly this month with lower beginning stocks more than offset by higher production, both based on the latest survey-based estimates and forecasts.

Beginning stocks were reduced 27 million bushels as indicated by the June 1 stocks estimate in the June 28 grain stocks report.

Production is forecast up 34 million bushels with lower forecast harvested area from the USDA’s June 28 acreage report more than offset by higher yields.

Production was raised 11 million bushels for hard red winter and 30 million bushels for soft red winter wheat. White winter wheat is forecast down 7 million bushels.

For durum, a reduction in area is only partly offset by a higher yield with production forecast down 5 million bushels.

For other spring wheat, a reduction in area is more than offset by a higher yield forecast in the July crop production report, adding 4 million bushels to this month’s production forecast.

July survey-based yield forecasts for durum and other spring wheat are up 1.6 bushels per acre from last month’s trend based projections.

Total U.S. wheat use for 2013-2014 was increased 89 million bushels as lower expected domestic use is more than offset by higher projected exports.

Projected feed and residual disappearance was lowered 10 million bushels with stronger export demand, especially for SRW wheat.

Exports are projected 100 million bushels higher, reflecting strong sales, particularly to China.

Ending stocks are projected down 83 million bushels. At 576 million tons, stocks are expected to remain well above the 60-year low of 306 million in 2007-2008.

The USDA lowered global wheat supplies for 2013-2014 3.5 million tons, reflecting lower projected beginning stocks as world production rises 1.9 million tons. Higher 2012-2013 feed use in China accounts for most of the reduction in beginning stocks.

Global wheat consumption for 2013-2014 was increased 5.4 million tons, mostly reflecting higher expected feeding in China.

Wheat consumption also was raised for India, Pakistan, Iran and Japan, offsetting reductions for the European Union and the U.S.

Global wheat trade was increased with a 5-million-ton increase in China imports.

World ending stocks for 2013-2014 are projected 8.9 million tons lower. At 172.4 million tons, stocks would be the lowest since 2008-2009, but well above the 128.8 million in 2007-2008.