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USDA lowers 2022 soybean, corn crop totals

The USDA reduced its 2022 U.S. corn and soybean production totals following some adjustments to yield and acreage.

The final total for last year’s corn crop is 13.715 billion bushels, 15 million under the last guess, with the USDA making downward revisions to the acreage numbers, canceling out a fractionally higher average yield, now pegged at 173.4 bushels per acre.

The 2022 soybean crop is now recorded at 4.27 billion bushels, 5.93 million below the prior projection, with no change to planted area against modestly lower harvested area and a slightly higher average yield at 49.6 bushels per acre.

The 2023 U.S. corn and soybean harvests are ongoing with the preliminary totals for this year’s crop expected to be out in January.