Here is the quick look at the USDA World Agricultural Supply and Demand Estimates
The United States Department of Agriculture surprised the trade today with their yield forecasts for soybeans & corn.
USDA increased 2017-18 U.S. soybean yield by 1.4 bu/ac to 49.4 bu/ac, all the while the trade was looking for a slight reduction in yield from the July report to 47.4 bu/acre.
2017-18 U.S. corn yield is projected to be 169.5 bu/acre, down 1.2 bu/ac from the July report. However, this also came as a surprise to the trade, as the average pre-report trade estimate was for a reduction in yield of 4.7 bu/ac to 166.0 bu/acre.
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