Cash Strategist 09/27/2023
Harvest is starting to gain momentum across the United States, and as it does, more yield data is being collected.
It is no surprise that yields are highly variable from region to region as weather conditions were mixed all growing season. Several regions of the United Sates experienced drought conditions this year, but others had mostly favorable growing conditions all season. As always, the question now is if the good areas will offset losses in the poor regions.
The U.S. Department of Agriculture (USDA) is currently projecting yields of 173.8 bushels per acre for corn and 50.1 bushels per acre for soybeans on balance sheets. Several analysts believe these will eventually be lowered, but this isn't the opinion of everyone in the market, which has been weighing on futures market potential.
While a large portion of current market interest is on...
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