MS-Global Agriculture Corn Soybeans：Aug WASDE：U.S.Record Yields-20250812

Record-high U.S. yields have significantly boosted U.S corn production andexpanded global supply, exerting downward pressure on corn prices. Meanwhile,soybean ending stocks were slightly revised down, as a reduction in planted areaoffset the impact of improved yield projections.

For Latin American farmers, the U.S. bumper crop weighs on commodity prices ontop of stronger currencies crushing profitability. With South America's new cropplanting season starting in September, current low profitability suggest a cautiousstance and may provide price support.