USDA forecast soybean production at 3.319 billion bushels, up 2% from Oct forecast and up 12% from last year that's above trade expectation of 3.269 billion bushels , average yield are 43.3 bu/acre. , increase 0.9 bushel from Oct estimated and up 3.6 bushels from 2008.
Corn production forecast at 12.921 billion bushels, down 1 % from Oct estimated at 12.995 billion but increase 7% from 2008. , yields are expected to 162.9 bu/acre down 1.3 bushels from Oct estimated at 163.7 bu/acre.
Soybean and Corn production are record crop.
The world soybean production rise 4 million tonnes to 250.23 tonnes with increase from US up 2 million, Brazil up 1 million to 63 million tonnes and Argentina up 1 million to 53 million tonnes.
Soybean production still bearish for Soybean prices.
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