USDA will release the August crop production and supply and demand reports Friday at 11 a.m. Mastering the Grain Market author Elaine Kub says traders have already dialed in a corn yield between 176 and 178 bushels per acre. “Even for soybeans, they are expecting the USDA to increase their yield projection from the July report, which I think might be a little surprising to some folks because there has been really quite a lot of dryness in major soybean producing areas of the Corn Belt.” Kub says the trade expectation of lower global grain stocks is justified.“There is huge drought problems in every other major wheat exporting country on earth. This includes Canada, Australia, all of the European countries and Russia. This also carries over into their feed grains production right now.” Kub will join RRFN at the Big Iron Farm Show on Wednesday, September 12.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.