The USDA has increased its expectations for U.S. corn and soybean production.

As of November 1st, corn is projected at a record 15.234 billion bushels, 1% above October and 11% more than 2022, with the USDA also raising the average yield guess 1.9 bushels per acre to 174.9 while leaving harvested area unchanged at 87.096 million acres. In 2022, corn production totaled 13.715 billion bushels with an average yield of 173.4 bushels per acre on harvested area of 79.115 million acres.

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