USDA released an updated corn and soybean yield last week, which reshaped the feed outlook for the year. The latest Crop Production (November) report indicated the corn yield dipped below a record high yield to 175.80 bushels per acre. Soybean yields were also revised lower to 50.7 bushels per acre, short of a record yield. The World Agricultural Supply and Demand Estimates (WASDE) took those updated yields to revise the balance sheets, and incorporated other changes to projections as well.
For more on this topic, see the Livestock Monitor article below.