USDA put corn production at 13.074 billion bushels, a 1% drop from November. The average yield was estimated at 151.1 bu./acre. The season average cash price was $3.70-4.30.
The final USDA soybean estimate was 2.585 billion bushels, compared to 2.594 billion bushels in November. USDA estimated the average yield was 41.2 bu./acre. The season average cash price was $9.90-10.90.
The full Crop Production 2007 Summary is available online at www.nass.usda.gov.