The USDA’s National Ag Statistics Service is forecasting U.S. corn production for grain is forecast at 15 billion bushels, up slightly from the September forecast. USDA is forecasting U.S. corn yields at 176.5 bushels per acre, slightly higher than trade expectations. U.S. soybean production is forecast at a record 4.45 billion bushels. Soybean yields are forecast to average 51.5 bushels per acre, slightly higher than trade expectations. Total planted and harvested acres of corn and soybeans remain unchanged from September.
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