Futures closed mostly lower with USDA’s mid-session November WASDE report causing a drop-off on higher production and stocks. 

U.S. Wheat

Increased imports by 10 million bushels. Raised ending stocks by 14 million bushels. Lowered the season average price by 10-cents to $7.20/bushel.

World Wheat

Lowered world wheat production 1.4 MMT but raised beginning stocks and lowered exports and ending stocks. Russia’s wheat production was increased 5 MMT to 90 MMT but kept exports at 50 MMT. Argentina’s production was lowered 1.5 MMT to a total of 15 MMT.

U.S. Corn

Raised yield by 1.9 bushels to 174.9 bushels/acre.  Raised production by 1.1 percent to a record 15.234 billion bushels. Raised food, fe...