The USDA bumped up the U.S. corn yield by 1.7 bushels per acre in the the September supply and demand report for a national average of 176.3 bushels per acre.
Harvested acres increased 600,000 acres from August, and the combination of these factors was enough to give the United States a 15 billion bushel corn crop.
Old crop demand was lowered by 70 million bushels, which further increased the new crop corn supply.
New crop corn demand increased 75 million bushels, and the end result is a new crop carryout estimate of 1.4 billion bushels, a 166 million bushel increase from August.
The U.S. soybean yield was increased by 0.6 bushel this month for a national average of 50.6 bushels per acre. Harvested acres were lowered by 300,000 acres, though, for an end result of a 4.37 billion bushel crop.
Old crop soybean demand was reduced by 15 million bushels from a lower crush pace. Crush was also lowered by ...