According to USDA, U.S. corn production is forecast at 14.7 billion bushels. That’s down 49 million bushels from last month. The average yield is forecast at 180.7 bushels per acre, down over one bushel from September. Corn ending stocks are growing, jumping from 1.77 billion bushels in September to 1.81 billion bushels in the World Supply and Demand Estimates report. Feed and residual use declined, but corn exports are expected to increase. U.S. soybean production took a slight reduction, coming in at 4.6 billion bushels. The average soybean yield was raised to 53.1 bushels per acre. Soybean ending stocks are estimated at 885 million bushels, up from 845 million bushels last month.
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