Monday’s USDA report was bearish for corn, causing the markets to hit trading limit lows. Gulke Group President Jerry Gulke says an estimated U.S. corn yield at 169 bushels/acre and production numbers are a surprise. “By reducing the acres and prevent plant, some of those acres that did get planted look pretty good,” says Gulke. “In South Dakota, they only lowered the yield from last year three bushels. You can talk to South Dakota people and they think it’s a lot worse than that. North Dakota is down about seven bushels from last year.” Gulke says we’ll get a better look at yield in September. “The USDA will count actual ears and they may assign a test weight to those ears.”
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