By Jon Scheve, Superior Feed Ingredients, LLC
Arguably the Aug. 10 USDA report is the biggest of the year because it provides the first estimated yields for the upcoming harvest. With population estimated counts the highest ever, and ear weight estimates lower than the past two years but still on the high side, the USDA is predicting a 178.4 average national yield.
The weather throughout the growing season has been very good for a large percentage of the Corn Belt to this point. Even if there is widespread dry weather throughout the Midwest during the last half of August, I’m not sure how much of a negative impact there would be on yields. On the other hand, I think some timely rains could still have a positive impact on yields going into harvest.
That being said, I’m not bearish corn long-term. Even if national yields would climb another 3 bushels per acre, next year’s carryout would still be lower than this year.… Continue reading