USDA pegged total U.S. corn and soybean production at 15.342 billion bu. and 4.165 billion bu., respectively amid a 2.4 bu. and 0.7 bu. bump in the national corn and soybean average yield estimate from November.
Corn, soybeans and wheat traded higher overnight amid light corrective buying ahead of USDA’s January crop reports later this morning and support from rising crude oil tied to increased Middle East tensions.
