Cash Strategist 9-13-2023
We are now starting to see harvest of U.S. corn and soybean crops move into the heart of the Corn Belt.Yield data continues to trickle in and remains highly variable, which isn't a surprise. The question now is if the very high yields in fringe areas of the Corn Belt will help cover losses in other areas, mainly southern Minnesota and Wisconsin, where drought was more of an issue.
While many regions of the Corn Belt have been dry all season, the areas missed several rain events that others received. Determining a final average yield on either crop is going to be difficult until well after harvest is complete.
Regardless of yields, the U.S. interior market is counting on these added bushels to rebuild inventories.The cash market pipeline in the U.S. ...
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