The USDA has increased projections for the 2022 U.S. corn and soybean crops.
As of November 1st, corn production is estimated at 13.93 billion bushels, with an average yield of 172.3 bushels per acre, both a bit higher than in October. Harvested area is seen at 80.844 million acres.
Soybeans are pegged at 4.346 billion bushels, 1% above a month ago with an average yield of 50.2 bushels per acre, fractionally more than last month.
