In the November Supply and Demand report, USDA lowered U.S. production and raised demand more than expected. U.S. corn production was lowered to 14.5 billion bushels on a yield of 175 bushels per acre. Soybean production was lowered to 4.1 billion bushels on a yield of 50.7 bushels per acre. Wheat production remained unchanged from last month. Ending stocks for corn were estimated at 1.7 billion bushels, down from 1.9 last month. Soybean ending stocks were pegged at 190 million bushels, down from the 290 million last month.
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