USDA released the January World Agricultural Supply and Demand Estimates (WASDE) report on Friday. The agency pegged the final national average corn yield at a record 177.3 bushels per acre which exceeded pre-report expectations. Corn production was estimated at 15.34 billion bushels.

USDA also raised soybean yield estimates to 50.6 bushels per acre and production at 4.17 billion bushels. The report yielded a bearish reaction for corn and soybean markets and was neutral for wheat. Wheat estimates fell 659 million bushels from last month’s report to 648 million bushels.

Read more on the latest USDA WASDE report here.