WASHINGTON (DTN) -- USDA lowered its forecasts for corn and soybean production to 13.56 billion bushels and 3.89 bb respectively.
On corn, USDA estimated the national average yield at 168 bushels per acre, up 0.5 bpa from last month. Harvested acreage was trimmed by about 500,000 acres to 80.7 ma, toward the low end of pre-report estimates.
Soybean yield came in at 47.2 bpa, up 0.1 bpa from last month. USDA also lowered harvested acreage by 1.1 million acres to 82.4 ma.
USDA's ending stocks estimates all fell within the range of pre-report expectations.
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