The USDA has lowered 2020 production outlooks for corn and soybeans.

Corn is projected at 14.722 billion bushels, less than 1% below the September estimate, but up 8% on the year with the yield seen at a record high 178.4 bushels per acre, down 0.1 on the month and up 10.9 on the year. Harvested area is seen at 82.527 million acres, compared to 83.473 million a month ago and 81.337 a year ago.

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