The United States Department of Agriculture reduced the 2017-18 U.S. soybean yield to 49.5 bushels per acre, down .4 bushels per acre from the September report. Production remained the same as last month’s estimate for a record 4.431 billion bushel crop on a record harvested area of 89.5 million acres. However, 2017-18 U.S. soybean ending stocks fell by 45 million bushels to 430 million bushels, but up from 301 million bushels last year.
2017-18 U.S. corn yield is projected to be 171.8 bushels per acre, up 1.9 bushels per acre from the September report.
U.S. wheat ending stocks were increased by 27 million bushels to 960 million bushels.
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