In its November 9 World Agricultural Supply & Demand Estimates report, USDA once again revised 2010-11 corn yields down, but raised its pricing by 4% year-over-year.
According to Henry Kirn, analyst for UBS, the ag agency lowered its corn yield estimates to 154.3 bushel per acre from 155.8 bushels. It also lowered corn production to 12.540 billion bushels from 12.664 billion bushels due to the expected lower yields.
Projected ending corn stocks were shifted downward…
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