Money Farm market analyst Luke Swenson expects the grain market to be quiet ahead of the USDA report on September 12. “We aren’t expecting much in the way of change on yields. News wise and fundamentally, they don’t need to change their models. They assume the crop will make it. They have their assessment of yield and nothing has changed since last month.” Swenson says USDA could adjust ethanol demand in the report, but he does not expect planted acreage to change. “The expectation is 8.5 percent abandonment. It’s not feasible when we’re at $3.60 futures. There’s a lot of corn that shouldn’t be making it.” Swenson will join the Red River Farm Network during the Big Iron Farm Show on Thursday, September 12.
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