The USDA corn number was above the average pre-report trade estimate of 13.461 billion bushels. The soybean number was slightly above the pre-report average of about 3.884 billion bushels.
Corn futures traded slightly lower after the report but soybean futures advanced.
Based on Oct. 1 conditions, corn yield was forecast at 168 bushels an acre, up from 167.5 bushels forecast in September but down 3 bushels from 171 bushels an acre in 2014, the USDA. said. Harvested area was forecast at 80,664,000 acres, down slightly from 81,101,000 acres forecast in September and down 3 percent from 2014.
Soybean yield was forecast at 47.2 bushels an acre, up from 47.1 bushels forecast in September but down from 47.5 bushels an acre in 2014. Harvested area was forecast at 82,429,000 acres, down 1 percent from 83,549,000 acres forecast in September and down slightly from last year.
The USDA corn yield number was above the average trade forecast of 166.4 bushels an acre, and the soybean number also was above the trade average estimate of 46.9 bushels an acre.