USDA lowers 2024 crop production
Smaller than expected corn and soybean yield estimates provide support for crop prices.

The U.S. Department of Agriculture (USDA) published its final 2024 U.S. crop production estimates last week, with corn and soybean yields coming in well below trade expectations.

The USDA slashed U.S. corn yield estimates for the 2024 growing season by 3.8 bushels per acre to 179.3 bushels per acre. That reduces total production estimates to 14.867 billion...