USDA surprised the markets last Friday by raising its corn and soybean yield estimates significantly from the June report. While increases weren’t unexpected, it was their sheer magnitude that caused the very bearish market reaction. Some analysts also thought USDA would use a more cautious approach in the August estimates. The two charts below show the corn and soybean yield estimates versus 2017.
The yield changes from last year for some of these states is amazing. For example, South Dakota’s corn and soybean yields are expected to be up 25 bushels/acre and 6 bushels/acre, respectively, compared with last year. While the state did have some drought issues in 2017, much of its northern half has also had some problems this ye...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
