Barchart, a commodity data, and technology service provider updated its cmdty Yield Forecast this week. The August end of season yield prediction sits at 174.8 bushels per acre for corn and 49.2 for soybeans. This represents an increase in forecasted yield relative to the July report, which predicted end of season yield for corn 173.8 and 48.8 for soybeans.
Barchart’s Head of Strategy, Keith Petersen, says, “Growing conditions throughout the country remain strong, and this year’s forecasted crop has been more heavily impacted by changing expectations around acres planted than by weather.” Peterson says the national forecast remains steady this year, but adds there is some yield variance at the state level which can impact local basis conditions heading into the fall.
Released on the first Tuesday of each month during the growing season, the forecast allows users to get insights to guide their business decisions ahead of USDA’s World Agriculture Supply and Demand report.
NAFB News Service