The USDA-NASS Crop Production report released yesterday indicated a US corn yield of 168.8 bushels/acre. This is 2 bu/acre higher than the trend adjusted yield from July. Additionally, the soybean yield was increased nearly 1 bushel/acre. Although soybean planted and harvested acreages were lowered, the higher yield more than offset that decrease.
All reports will be updated this week and presented at the August Seminar in Kansas City. Hope to see you there! Register here.
The analysis above is not intended as a trade recommendation. The analysis and forecasts are based on available public data and on the best judgment of PRX, but cannot be guaranteed to conform to future reality.
