Some Good News for Corn in the Latest USDA WASDE Report

Dan Corn, Crop Forecasts, Industry News Release

cornLast Thursday, the U.S. Department of Agriculture estimated a corn crop for 2017 higher than U.S. farmers have ever realized, coming in with a whopping 175.4 bushels to acre average. That would equate to a record 14.578 billion bushels of corn harvested this year.

The yield guess was significantly higher than analysts like Mike Zuzolo from Global Commodity Analytics was expecting.

Zuzolo says the report did have some good news.

USDA lowered ending stocks for soybeans, but kept the yield estimate unchanged at 49.5 bushels to the acre with a 2017 harvest take in of 4.425 billion bushels.

From the National Association of Farm Broadcasting News Service.