Corn inspections during the week ended Aug. 15 rose 180,000 MT from the previous week, and are running 38.5% ahead of year-ago, while soybean inspections rose modestly.
Weekly new-crop soybean sales topped pre-report expectations for the second straight week, while new-crop corn sales landed just above pre-report estimates.
USDA pegged soybean production at 4.59 billion bu., up 10% from 2023, using a record yield of 53.2 bu. per acre. Corn production is estimated at 15.1 billion bu., using a yield forecast of 183.1 bu. per acre.
