**Please note – Ryan Capozziello will be out of the office until Tuesday, Jan 16. There will be no report on Monday January 15 in observance of the Martin Luther King Jr. Holiday.**

CME March future prices moved lower on soybean, soybean meal, corn, and wheat following the release of the USDA WASDE report on Friday morning. 

WASDE monthly average farm cash price for soybean are at $12.75/bu from $12.90/bu last month while the corn average farm price dropped 5 cents to $4.80/bu.

Also noteworthy in the USDA WASDE report had higher corn yield and production levels.

The yield per harvested acres estimate increased from 174.9 bushels last month to 177.3 in the latest report – a record and despite the lower planted and harvested area.

The higher yields pushed USDA estimates for corn production up 108 million bushels to a record output of 15.34 billion bushels (389.71 million mt).

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