Highlights
On the November S&D, USDA reduced corn yields by 0.7 bu. to 183.1 bu. and an even bigger surprise was a 1.4 bu. reduction of soybean yields to 51.7 bushels per acre. The soybean yield was lower than the lowest yield estimate by three-tenths of bushel!
Corn yield was reduced for all the states along the Atlantic Seaboard as well as Kentucky down 3.2 bu., Illinois down 1.8 bu., Missouri down 1.6 bu., Nebraska down 1 bu., Iowa and Wisconsin both down 0.5 bu. But Indiana was increased by a large 3.5 bu. and Ohio was increased 1.1 bu.
Soybean yields took a nasty hit in Missouri by 7.8 bu., Wisconsin by 7.0 bu., Kentucky by 5.9 bu., Iowa by 4.7 bu., South Dakota by 4.3 bu., and Minnesota by 4.2 bu.
As far along as the harvest was a month ago, it is hard to believe USDA could only see soybean yield reduction of 3 pounds per acre in October, but sees a yield reduction of 84 pounds per acre in November.