Corn, Soybean Supply Estimates Unchanged

USDA's monthly world ag supply and demand estimates report released Thursday wasn't much of a market-mover.

That's because the Ag Department left its corn and soybean production estimates unchanged as farmers continue to plant the rest of the crops.

"All eyes were on corn and soybeans going into this, but there were very few changes," said Karl Setzer, AgriVisor commodity risk analyst. "At the end of the day, when you look at the market, what we know coming out of the report is what we knew going into the report."

USDA's 2020 production estimates remain the same as last month--15.99 billion bushels of corn with a national average yield of 178.5 bushels per acre and 4.12 billion bushels of soybeans with an average yield of 49.8 bushels.