The USDA lowered its predittions for corn and soybean productoin this year - farmers won't be harvesting as many acres as they previously expected.
U.S. farmers are now expected to produce 12.433 billion bushels of corn this year, down from the 12.497 billion bushels the USDA predicted a month ago. And the U.S. soybean production forecast has been cut to 3.06 billion bushels, down from the USDA's September prediction of 3.085 billion bushels.
Click here for the World Agriculture Suppy and Demand Estamates (WASDE) report