After dialing back last month on projections for this year's record American corn crop, the USDA has increased it's estimates as the fall temperatures have aided the remaining harvest.
Yesterday's World Agricultural Supply and Demand Estimates report predicts U.S. production to be up by 1.9 bushels per acre.
The estimated 15.2 billion bushels is 168 million more than suggested in October.
The department notes corn prices received by producers is up 5 cents on the month, which it says is higher than expected.
Global corn stock estimates have also been boosted by 4.9 million tonnes, thanks to record Russian and Ukrainian yields.
The report also increases its soybean production from last month by 1.1 bushels an acre, or 92 million bushels, crediting gains in northern parts of the U.S.
The department adds soybean prices are up 15 cents on October's projection.
Wheat price estimates are unchanged.
U.S. wheat stocks are 5 million bushels higher than figured last month, which the USDA says reflects a reduction in food use.
The report suggest global use over the next year will be .8 million tonnes higher than projected last month as Canada and Russia increase the amount of wheat used for feed.
