The USDA is estimating the 2018-19 U.S. corn yield to be 178.9 bushels per acre, slightly lower than the last report. The big story was the world corn ending stocks, which were raised almost 93% from the October report, due to large historical revisions made to China’s supply and demand estimates.
The USDA estimates for the 2018-19 U.S. wheat crop were mostly unchanged from the last report, with a small decrease in US ending stocks.
The department continues to forecast record U.S. and world soybean ending stocks for the 2018-19 crop year.
U.S. soybean ending stocks are projected to be a 955 million bushels, up 70 million bushels from last month’s report. World soybean ending stocks increased by just over 2 million tonnes.
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