On Tuesday, November 10, 2015, the United States Department of Agriculture (USDA) published its monthly instalment of the world agricultural supply & demand estimates, and things came out a lot more bearish than the market was expecting. Going into the report, average market analysis pegged both corn and soybean yields and production higher than the previous October report. That being said, the USDA surprised even the bears by taking average corn yields up by 1.3 to 169.3 bu/ac, barely below last year’s record of 171 bu/ac! Total U.S. corn production was pegged at 13.65 billion bushels, almost 100 million bushels higher than the…
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