USDA Report Recap December 10, 2019

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Today’s December USDA report was expected to be lackluster and it did not disappoint. U.S. Corn and Soybean stocks, yield and production were all unchanged from the November report, with the only noticeable adjustment being a 6.8 million ton increase in global coarse grain production for 2019/20. This increase was a result of forecasted corn production in China and Bolivia being higher than the anticipated cut in corn production for Canada. As a result, both corn and soybean futures are chopping around unchanged for the day.