Final yield estimates for the 2023 corn and soybean crops released last week came in sharply higher than most analysts had anticipated. The U.S. Department of Agriculture (USDA) pegged the final corn yield at 177.3 bushels per acre, a national record. The soybean yield for 2023 was seen at 50.6 bushels per acre, the fourth largest on record. 

The USDA in its initial May forecast actually pegged yields even...