Food Supply Stays Tight With Poor U.S. Harvest

The U.S. Agriculture Department lowered its nationwide corn-production estimate to 13.9 billion bushels, 3% lower than its August projection, and 8% below 2021’s total. Soybean-production estimates were down 3% from a record projection in August, and down slightly from a year earlier.  “The current market expectation is that global grain and oilseeds markets need two consecutive normal crop years to stabilize global supplies.” Read more here.