from last year to 1.85 Mt, due to stronger soymeal prices. Feed, waste and dockage is forecast at a record 0.88 Mt. Carry-out stocks are projected at 1.0 Mt, which, while a record high, are not considered burdensome. Soybean prices fell slightly from last year to $434/t. The decline in soybean prices towards the end of the crop year was consistent with the improved world situation for soybeans as the expected US bumper crop relieved supply concerns arising from the Argentine drought.