Cash Strategist 8-18-21
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Published
8/16/2021
The numbers in the USDA's monthly World Agricultural Supply and Demand Estimates (WASDE) report shocked many traders last week as yields were cut more than expected. The average U.S. corn yield is now estimated at 174.5 bushels per acre, a 5 bushel reduction from July. In turn, this lowered corn production by 415 million bushels for a total corn crop of 14.75 billion bushels. The USDA buffered this loss with a 35 million bushel increase to old crop carryout and a 190 million bushel ...
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