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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.

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This presentation was recorded at Illinois Soybean Association's Better Beans event on January 11, 2024 in Bloomington, IL. Shaun Casteel, Ph.D., is Associate Professor of Agronomy and Extension Soybean Specialist for Purdue University. Dr. Casteel was born and raised on the family farm in east-central Illinois. He earned his B.S. in Crop Sciences at the University of Illinois, his M.S. in Crop Science and his Ph.D. in Soil Science at North Carolina State University. He has given over 850 invited presentations to 60,000 people across the country and world. Key areas of interest include: sulfur synergies, precision management of resources and practices; integration of soil characteristics, nutrient inputs, and crop physiology; and the influence of agronomic practices on yield physiology of soybean. His practical research also extends to field-scale trials with seeding rates, sulfur, and intensive management of soybean. You can follow him on his podcast Purdue Crop Chat