Market Briefs 8/16/2023
U.S. corn production is expected to be 15.1 billion bushels, or 10%, over 2022 harvest totals, while soybeans are expected to come in 2% below last year, according to the August crop production report from the U.S. Department of Agriculture (USDA).
In its first survey-based forecasts of the year, the USDA estimates the average U.S. corn yield at 175.1 bushels per acre, almost 2 bushels per acre higher than 2022 yields. The yield increase, combined with an overall 9% estimated jump in corn planted acres, explains...
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