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Despite the reduction in corn, production still came in slightly above trade expectations
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USDA pegged the national corn yield at 178.5 bu. per acre, while the soybean yield was increased 0.1 bu. to 52.8 bu. per acre.
Corn, soybeans and wheat each gave up some of Thursday’s gain overnight.
Pre-report estimates signal another yield reduction for corn and steady prospects for soybeans as objective data comes into focus.
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Grains favored a risk-on tone overnight with corn and wheat rebounding from recent losses.
Rains further north helped soil moisture remain stable despite high temperatures