USDA dumped a mountain of data on the marketplace Friday. U.S. corn production is estimated at 15.3 billion bushels. That’s up 108 million bushels from the last report. The average corn yield is 177.3 bushels per acre. That’s well above the average trade guess of just under 175 bushels per acre. USDA put the soybean production total at 4.2 billion bushels, which was on the high end of trade expectations. Yield is estimated at 50.6 bushels per acre, above the average trade estimate of 49.9 bushels per acre. The season-average corn price was lowered five cents to $4.80 per bushel. The Agriculture Department put the season-average soybean price at $12.75 per bushel, down 15 cents from last month.
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