USDA is estimating 2019 corn yields at 168 bushels an acre. That’s at the high end of trade estimates and a slight increase from last month. The U.S. soybean yield estimate is at 47.4 bushels an acre, a half a bushel higher and in line with trade estimates. Price forecasts for soybeans are at $9 per bushel, an increase of 15 cents due to stronger soybean oil prices. The seasonal average corn price forecast is unchanged at $3.85 per bushel and wheat price is unchanged at $4.55 a bushel.
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