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Corn Yield Estimate Reduced Again

By DMO Affiliate
The US corn yield estimate has been reduced yet again by the United States Department of Agriculture, but only slightly. The number of acres to be harvested remained constant with the last prediction, at 87.4 million acres. The yield per acre was reduced, however, to 122.8 bushels from 123.4. While the news is not good, the Wall Street Journal reports that analysts had been expecting a much greater drop in yield and acreage than the USDA announced. Due to the smaller than expected drop, corn-futures have fallen 1% in trading.The US has seen its worst drought since the 1950's this year, causing much of the corn crop to be unusable. The total crop could be the lowest the nation has seen in six years.
Corn Yield Estimate Reduced Again

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