WASHINGTON (DTN) -- While USDA lowered its corn production forecast slightly, it's still expected to be a record crop.
USDA now sees farmers harvesting 14.4 billion bushels of corn this fall with an average yield of 173.4 bushels per acre, according to its monthly Crop Production report released Monday. The average corn yield estimate dropped 0.8 bpa from last month's estimate, resulting in a 68 million bushel decline in production.
USDA's corn forecasts were within the range of pre-report expectations.
On soybeans, USDA boosted production to 3.958 bb, up 31 mb from October's report. The national average yield increased 0.4 bpa to 47.5 bpa.
USDA released its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports Monday. (Logo courtesy of USDA)