The latest month-over-month adjustments to the U.S. Department of Agriculture’s Crop Production Forecast reflect tightening of numbers as harvest winds down. The National Agricultural Statistics Service reports lower production forecast in November (Nov. 8, 2024) for major spring planted crops, soybean production forecasts lowered 3% from the previous month, and corn and cotton production declining by less than 1% from October. Yet record to near-record marks are still indicated in various production categories, the second-highest total production for soybeans, fueled by the second-highest yield total on record, and record yields for corn, contributing to the third highest production totals on record for that crop. For example, even with the slight production forecast adjustments, the season-ending average price estimates for corn, beans and cotton remained unchanged from the previous month.