(BLOOMINGTON) Traders were expecting a slight decline in the USDA’s corn production estimate this month as drought spreads throughout the Corn Belt, but the agency boosted the national number once again, still anticipating record production. The September 12th world ag supply and demand estimates, released last Friday, forecast corn production at 16.8 billion bushels, up less than 1% from the previous forecast, but down from a year ago. The soybean production was pegged at 4.3 billion bushels, up less than 1% from the August numbers, but down 2% from 2024. More USDA numbers are expected by October 1st.
