In its December supply/demand report, USDA left the production numbers unchanged at 14.6 billion bushels for corn and 4.6 billion bushels for soybeans. The average corn yield was forecast at 178.9 bushels per acre and the soybean yield at just over 52 bushels per acre. also unchanged from last month. USDA did bump the production estimates for the Brazilian soybean crop by 1.5 million metric tons to 122 million. That’s slightly higher than the CONAB estimate, which was also released Tuesday. U.S. ending stocks estimates for corn, soybeans and wheat were called neutral by the grain trade.
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