USDA will release its next crop production report Wednesday. In the last report, the Agriculture Department forecast corn yields at 181.5 bushels per acre and soybeans at 52 bushels per acre. Advance Trading Risk Management Advisor Tommy Grisafi said lower yields are expected. “The thing that will move the market again would be the bean yield being adjusted,” said Grisafi. “The crop ratings didn’t improve that much even though many of the ‘I’ states received a beneficial rain so keep an eye on those crop ratings and we’ll see if the USDA gets aggressive or if they just start to scale things back gently.” Weather will remain part of the story. “There is enough damage in the state of Illinois to really keep people concerned. It’s going to take awhile until we see the Pro Farmer crop tour or other private crop tours go out there.” Grisafi is featured in the latest edition of the Bull Pen on the Red River Farm Network YouTube channel.
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