USDA Lowers Soybean Yield In November WASDE Report

The USDA released its November WASDE report Tuesday morning.

Neil Townsend is Chief Market Analyst with FarmLink Marketing Solutions.

"I think the big number that the market is going to be talking about is the fact that they lowered soybean yield. That was relatively unexpected. People were kind of thinking that the yield would actually be ticked up a bit. They took it from 51.5 down to 51.2. That doesn't sound like much but the expectation was that the yield was going to go up."

Townsend says there were negligible changes to wheat if any.

Corn stocks were raised in line with expectations that the trade had. The yield was raised half a bushel to 177 bushels per acre, the average trade guess was 176.9.