USDA lowers domestic soybean, corn harvest estimates
CHICAGO, Nov 8 (Reuters) -U.S. farmers produced lesssoybeans and corn this year than previously expected, the U.S. Department of Agriculture (USDA) said on Friday.
The USDA estimated soybean output at 4.461billion bushels, with an average yield of 51.7bushels per acre, down from October estimates for a 4.582-billion-bushel crop with yields of 53.1 bushels per acre.
The corn harvest was 15.143billion bushels, with an average yield of 183.1bushels per acre, compared to USDA's October estimates for production of 15.203 billion bushels and yields of 183.8 bushels per acre, the agency said in a monthly report.
Analysts had expected USDA to lower soy production to 4.557 billion bushels and yields to 52.8 bushels per acre and peg the corn harvest at 15.189 billion bushels, with a yield of 183.7 bushels per acre, according to a Reuters poll.
Reporting by Tom Polansek
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