The USDA has raised its 2021 corn and winter wheat production outlooks following the USDA’s acreage adjustments, while leaving soybeans unchanged.

Corn is now projected at 15.165 billion bushels, up 175 million from June, and raised new crop ending stocks by 75 million bushels to 1.432 billion bushels, with that increase in production cancelling out lower beginning stocks and higher feed use.

Winter wheat is pegged at 1.364 billion bushels, 4% more than in June and up 16% from 2020 thanks to bigger planted area and a better yield, while spring wheat is seen at 344.575 million bushels, down 41% due to drought in some key growing areas.

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