Progressive Ag Marketing market analyst Brian Strommen says the USDA numbers were very close to pre-report estimates. “For corn, the yield was lowered 3.3 bushels per acre. Production was down 378 million bushels and some of that came from lower yield in addition to harvested acres down 550,000, all of that comes from Iowa,” says Strommen. “The ending stocks were lower, but feed usage and ethanol both decreased. Smaller stocks certainly provided some support.”
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