The grain pits party after the USDA lowers its corn production estimate to 13.76B bushels - still a whopper of a number, but off from 13.95B in July. Ending stocks are cut to 1.837B bushels.
Bean production is cut to 3.255B bushels from 3.42B as acres planted are cut 500K and yield is lowered to 1.9 bushels/acre.
No change is made to the wheat production estimate, but 25M bushels of extra exports cuts ending stocks by the same amount.
December corn erases a sizable early loss, now up $0.15 to $4.69/bushel. CORN +1.5%.