The January 10 World Agricultural Supply and Demand Estimates (WASDE) report reduced corn and soybean production estimates. Both commodities came in lower than expected.

The USDA reduced the national corn yield by 3.8 bushels per acre to 179.3 bushels per acre. Total acres harvested acres increased by 200,000 acres to come in at 82.9 million acres. This put 2024-25 corn production at 14.867 billion bushels, a decrease of 276 million bushels from last month’s report.

Ending stocks for the 2024-25 crop were 1.54 billion bushels, a decrease of 198 million bushels. Of the total stocks, 7.66 billion bushels were stored on farms. This is a 2% decrease from last year.

The USDA lowered 2024 soybean yield to 50.7 bushels per acre, a 1 bushel per acre decrease. The harvested acres were reduced from 86.3 million to 86.1 million acres. This resulted in a total production of 4.366 billion bushels. This is a decrease of 95 million bushels from the last report.

Soybean ending stocks were lowered to 380 million bushels, a decrease of 90 million bushels from the previous report. Stocks stored on farms totaled 1.54 billion bushels. This is up 6% from last year.

Read more about corn and soybean estimates from the WASDE report here.