On Wednesday, the USDA released the November World Agricultural Supply and Demand Estimates (WASDE) report and it showed that small crops did not get smaller.
The report shows U.S. corn yield at 172.3 bushels per acre, that is up from 171.9 bpa in October. On soybeans, USDA showed U.S. soybean yield increasing to 50.2 bpa, which is up from 49.8 bpa in October.
USDA raised the size of the corn and soybean crops as well on the report with the corn crop increasing 35 million bushels and soybeans up 33 million bushels.
Read the full report here: https://www.usda.gov/oce/commodity/wasde/wasde1122.pdf
More analysis below with Arlan Suderman, Chief Commodities Economist at StoneX: