The November USDA World Agricultural Supply and Demand Estimates (WASDE) report is not expected to show much change in crop production. Allendale Chief Strategist Rich Nelson says the November WASDE report typically does not make any big changes. “Often we do see an up to two bushel yield changes in this report. The trade is saying this early portion of harvest is at or better than expected.” Private forecasts are coming in slightly higher than the October USDA report. “On Friday, we had two groups raising the corn yield estimate to 168.49 bushels an acre compared to USDA’s 168.4 bushels an acre. For soybeans, there could be a small yield cut.”
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