Based on the estimates going into the October crop report, the trade was expecting limited changes. The U.S. Department of Agriculture (USDA) did update production again in this month’s report as well as the balance sheets. Both corn and bean production were revised lower. 

Corn yield was estimated at 173 bushels per acre, down 0.8 bushels per acre from last month. Iowa’s corn yield was lowered by 1 bushel per acre...