Thursday, the U.S. Department of Agriculture released new yield and acreage data in their October World Ag Supply and Demand Report. The agency put the corn yield at 171.8 bushels per acre, up from last month’s 169.9 and lowered the soybean yield to 49.5, last month it was 49.9.
Mike Zuzolo, a Market Analyst with Global Commodity Analytics, talks about the grain trade’s response.
Also in the report Thursday, USDA cut corn planted acres by 500,000 and cut harvested acreage by 400,000. For soybeans, they raised planted acreage by 700,000 acres and harvested acreage by 800,000.
Zuzolo says with the latest market reaction, lines at the elevator may start to get lengthy.
That’s Mike Zuzolo with Global Commodity Analytics.
