The USDA lowered the average soybean yield and raised the corn yield in the November Supply and Demand report. Global Commodity Analytics and Consulting President Mike Zuzolo expects corn yields to come down in future reports. “Five states including Michigan, Illinois, Indiana, Ohio and Kentucky are all showing record yields. Then, the USDA cut the Illinois and Indiana yields back. Other states may be struggling with tar spots. We may see more of a yield decline from USDA in January.” Wet weather is preventing harvest progress, also impacting yields. “Especially in central and western Indiana, all the way into Illinois. I feel satisfied in USDA’s estimates west of the Mississippi River. I wonder if they’ll have to pull back Minnesota’s estimates at a later date.”
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