The USDA has trimmed projections for 2020 U.S. corn and soybean production and ending stocks.
As of November 1st, corn is estimated at 14.507 billion bushels, down 1% from October, with an average yield of 175.8 bushels per acre, a decline of 2.6 on the month, with ending stocks of 1.702 billion bushels, a cut of 465 million on that lower production guess and strong export demand. Harvested area is seen at 82.527 million acres, steady with the previous estimate.
