USDA’s National Agricultural Statistics Service lowered its production estimates for corn, soybeans and cotton, bumping corn down to 13.8 billion bushels and soybeans to 3.63 billion bushels, which each represent 1% declines from the August estimate.

USDA is cutting its estimates of U.S. corn and soybean acreage after resurveying farmers and doing further analysis of areas of the Midwest hit hard by heavy rains this spring. 

July reports from the Department of Agriculture offered little surprise to traders, including when USDA stuck with the much-maligned June Acreage report data.

The Department of Agriculture projects higher corn ending stocks, which would be the second largest on record behind 2016/17, in this month’s World Agriculture Supply and Demand report.

As trade disputes eroded major markets for American soybeans, U.S. producers grew more of the crop than ever befor e,according to Department of Agriculture data released Friday.

USDA cut its forecasts for soybean exports for the current marketing year to 1.9 billion bushels, down 160 million bushels from the October projection, citing lower imports from China, which is engaged in tit-for-tar tariff war with the U.S.

USDA trimmed its estimates for the corn and soybean crops on Thursday, citing lower yields for corn and a smaller harvested area for soybeans.

Big crops keep getting bigger, farmers say, and that looks to be the case this year. USDA today raised its harvest estimate for corn and soybeans, which were already forecast to be in record or near-record territory.