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Shining Light on Farm & Food Policy for 20 Years.
Monday, November 18, 2024
USDA is projecting corn and soybean yields at record highs this year and has sharply raised its forecast for both soybean production and ending stocks, prompting another drop on the futures markets Monday.
The Department of Agriculture’s annual Crop Production report surprised traders with increases to the 2023 corn and soybean yield, pulling prices for both commodities lower in what could be the start of a longer trend.
A flurry of Department of Agriculture reports Wednesday showed bin-busting production of corn, sorghum, soybeans and cotton took place in 2021, largely matching what traders were expecting to see.
