Well, you might say the grain trade is taking yesterday’s production numbers with a grain of salt. Already looking forward to this September report on the 11th.
Yesterday’s report was based on farmer surveys. Surveys that were returned anyway, and satellite data. Now, in the coming weeks, private crop scouts and USDA teams will be heading to the fields and conducting in-field surveys for the September report.
They’ll be pulling back ears, counting rows, and actually measuring plant populations. With weekly crop ratings their lowest of the season for corn, soybeans, and spring wheat for that matter, it looks unlikely in our view that corn can push past 153 bushels per acre on a national yield. This is the Bottomline report.
Audio Reporting by Mark Oppold for Southeast AgNet.