In its World Agricultural Supply and Demand Estimates (WASDE) re­­port last week, the U.S. Department of Agriculture (USDA) raised its U.S. corn and soybean production forecast.

U.S. corn production for 2014/15 is forecast 363 million bushels higher at a record 14.39 billion bushels. The corn yield forecast is raised 4.3 bushels per acre to a record 171.7 bushels.

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