HOUSTON (ICIS)--Raising its estimates towards a new record high, the US Department of Agriculture (USDA) increased corn production by 298m bushels to 14.58bn bushels, while soybean output was lowered by 5m bushels to 4.425bn bushels, according to the November World Agricultural Supply and Demand Estimate (WASDE) report on Thursday. The agency said the corn outlook was for larger production, increased feed and residual use and exports, as well as greater ending stocks.
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