The USDA's newest World Agricultural Supply and Demand Estimates report has raised projected prices for soybeans by 10 cents a bushel while corn and wheat prices remain unchanged from last month.
The department says that's mainly due to an expected increase in crush usage.
U.S. soybean stock estimates have been raised by 15 million bushels, to 435 million.
Global stock projections have also been bolstered by 2.6 million tons, credited mostly to a 2 and a half million ton combined increase from Brazil, China, and the U.S.
Estimates of global corn stocks have also been raised by 12.7 million tons from a month ago.
The report says projected acreage and yields in Brazil are up, as early reports from there for this season's corn crop have been record high.
American stocks are unchanged from last month, which is why expected prices this year remain between $3.20 and $3.60.
The USDA suggests wheat prices will hang around the $3.85 mark this summer.
U.S. wheat stocks have been lowered from February by 10 million bushels.
Global production estimates, meanwhile, has been bumped up by 2.8 million tonnes as yields in Argentina and Australia continue to climb.
