U.S. balance sheets updated
The U.S. Department of Agriculture (USDA) lowered the national average corn yield to 175.4 bushels per acre in the August World Agricultural Supply and Demand Estimates (WASDE) report, a decline of 1.6 bushels per acre from July.

When combined with a decrease in harvested acres of 100,000, this lowered the U.S. corn crop by 146 million bushels to a level of 14.36 billion bushels. Old crop ending stocks were...