USDA lowered the corn yield forecast from 177 bushels per acre to 175 bushels per acre the latest USDA report. That lowers new crop corn production to 14.3 billion bushels. The soybean yield was the big surprise. USDA raised the U.S. soybean yield from 51.5 bushels per acre to 51.9 bushels per acre. Soybean production is raised from 4.5 billion bushels to 4.53 billion bushels. USDA raised the average wheat yield slightly to 47.5 bushels per acre leaving production nearly unchanged. Read more.
