A Bearish S/D Report

The USDA supply and demand report delivered higher-than-expected corn and soybean yields. Corn production totaled 15.2 billion bushels with an average yield of 174.9 bushels per acre. Soybean production climbed to 4.1 billion bushels with yields averaging 49.9 bushels per acre. Traders had been expecting soybean yields to be unchanged to slightly lower.