Weather Will Now Hinder 175 BPA Yield Expectation? 

Monday's USDA crop report came across as neutral but did not contain what many of us, who have had great weather up until this week, took for granted; a November national corn yield of 175 BPA. With national corn harvest at 80%, the trade is estimating that there is about 400 million bushels still to harvest in wet areas of northern corn-belt states. National corn carry-out ideas at 2 billion bushels leave continued upside hope somewhat tied to fundamentals of reducing acreage expectations for 2015-16.  Ironic talk considering we have not completely garnered this year's corn crop.

These expectations of "adequate" corn supply should provide the ethanol industry with a few months of public relation bliss with consumers along with investor expectations starting fiscal 2015 on a merry note.