USDA’s September World Agricultural Supply and Demand Estimates (WASDE) produced a bit of a surprise with the agency raising their national corn yield estimate. USDA left the soybean yield estimate unchanged, which sparked a bullish reaction in the markets. However, analysts chalk it up to how early it is in the year and the uncertainty around soybean yields in early September.
Leading into the report, surveys showed analysts expected USDA to decrease yields. Instead, the agency bumped the national corn yield by a half a bushel.
By Tyne Morgan
September 12, 2024
Comentarios