In the crop production report, USDA left the corn yield unchanged from June at 166 bushels per acre. USDA lowered soybean yield to 48.5 bushels an acre, down a bushel from last month’s report. U.S. corn production was forecast at 13.8 billion bushels. Soybean production was at estimated at 3.8 billion bushels. With the problems getting the crop in the ground this spring, USDA is resurveying farmers about acreage this month and those numbers will be reflected in the August crop report.
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