Balance Sheet Updates Shock U.S. Markets

The U.S. Department of Agriculture (USDA) left the U.S. corn yield projection unchanged at 177 bushels per acre in this month's World Agricultural Supply and Demand Estimates, but increased total output to 14.5 billion bushels on higher acres from the June acreage report.

Corn carryout for the 2021-22 crop year increased to 1.51 billion bushels, a 25 million bushel bump from June on reduced feed and...