October WASDE favors soybeans

The USDA decreased its U.S. corn yield estimate by 0.6 bushel from September to an average of 171.9 bushels per acre, according to last week's World Agricultural Supply and Demand Estimates (WASDE). 

This is expected to give the U.S. a corn crop of 13.895 billion bushels, down 47 million bushels from September’s estimate. 

Corn exports were trimmed 125 million bushels and ethanol was cut 50 million bushels, but we did see an increase of 50...