
The USDA August Crop Report is just around the corner, scheduled for release a week from tomorrow, and private estimates are already stirring up conversations in the ag markets.
Some corn yield models are projecting a national average yield above 185 bushels per acre, which is a full 45 percent above early trendline yields. However, the USDA is expected to remain conservative, starting its estimate at 181 bushels per acre, consistent with previous reports.
Despite these optimistic numbers, “there continues to be talk about unspecified pollination issues,” which could significantly impact final yields. Analysts suggest we won’t get a complete picture until the Pro Farmer Tour kicks off the week of August 18th. This tour will provide on-the-ground insight into pollination and other corn crop development concerns.
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Meanwhile, corporate earnings season continues in full swing this week. More than 1,500 companies are set to report earnings. Notable reports coming tomorrow include Caterpillar, Pfizer, Zoetis, and ADM. Later this week, eyes are on Eli Lilly and Elanco Animal Health, as ag-related pharmaceutical and equipment industries remain under the microscope.
Audio Reporting by Mark Oppold & Dale Sandlin for Southeast AgNet.