I spent a little time this weekend playing around with some numbers for the upcoming USDA Crop production report to determine what we could see either in the December or January report. With the next USDA report coming up on Tuesday December 11th reach out to me and I will let you know what I am looking at for some USDA estimates. It should make for another interesting year of grain marketing with the thoughts of increased corn acres next spring too.
Some highlights from my analysis:
- In the November USDA report we saw yield reductions in some key states like IA, IL, MN, and SD. MN was down 7 bushel per acre, IA & SD were both down 6 bpa, and IL was down 2 bpa.
- Yield could be compared to 2006 and 2007, when there was an increase in yield from the September to October USDA report and then a decrease in the October to November reports. This fluctuation impacted the final yield report in January of each of those years, with decreases of 1.9 and 2.1bpa respectively.
- I would like to point out is that a lot of corn is going into farm storage this year. In the states of IA, MN, and SD where the yields are getting smaller, one of the driving factors is light test weight on the corn.
Going forward will we get a further reduction of the national corn yield, if so, how much?
For more information contact Cory directly via email or by phone (605) 625-5700.