Due to higher than expected corn and soybean yields this harvest, the U.S. is experiencing one of the largest grain surpluses in recent years.

According to the U.S. Department of Agriculture, crop production estimates in November showed national corn yields above 2016 production. On the other hand, soybean yields are estimated to be lower than last year’s record, but the total supply is larger due to acreage increases. Also, as of September 1, there were an estimated 2.3 billion bushels of corn and 301 million bushels of soybeans in storage nationwide. Of that, about 30% of the combined carryover was held on farms. According to local field agronomist Meaghan Anderson, yields locally are over 200 bushels per acre for corn and in the low- to mid-60’s for soybeans.