The U.S. Department of Agriculture (USDA) in its World Agricultural Supply and Demand Estimates (WASDE) report released last week trimmed U.S. corn and soybean 2016-17 production from earlier estimates.
U.S. corn production is now estimated at 15.148 billion bushels, down 78 million bushels from last month on lower harvested area and a reduction in yield to 174.6 bushels per acre, the WASDE report said.
U.S. soybean production is estimated at a record 4.3 billion bushels, down 54 million from last month on lower yields. Harvested area is estimated at 82.7 million acres, down 300,000 from the previous forecast with lower planted area, the USDA said in the report.
Still record harvests
U.S. corn growers in 2016 produced...