USDA lowers 2019 corn, soybean forecasts

The US Dept. of Agriculture in its Nov. 8 Crop Production report forecast 2019 US production of corn at 13,661 million bushels, down 0.9 percent from the October forecast and down 5 percent from 2018. Soybean production was forecast at 3,550 million bushels, down 304,000 bushels from October and down 20 percent from last year.  Average corn yield, based on Nov. 1 conditions, was forecast at 167 bushels an acre, down 1.4 bushels from October and down 9.4 bushels from 2018. Corn harvested area was forecast at 81,815,000 acres, unchanged from October but up slightly from 2018.  Read more