AgResource Company President Dan Basse thinks the marketplace can’t tolerate a U.S. corn yield less than 170 bushels per acre and a soybean yield than 49.5 bushels per acre. If that happens, expect much higher prices. “That’s the story of these markets. It doesn’t take a big yield loss to have a big market in mid-to-late summer.” July weather makes a corn crop and August makes a soybean crop, but Basse says the current hot, dry conditions are challenging crops now. “We need at least one inch of rain per week if there’s any thoughts about trendline corn and soybean yields. At the moment, our research suggests the top end of these crops is now gone.”
