USDA Projects Record Yield for 2012/13 Corn at 166 bu. per Acre
May 10, 2012
Big Things to Take Away From This Morning's WASDE:
12/13 corn production projected at a record 14.8 billion bushels
12/13 corn yield projected at a record 166 bushels per acre
11/12 corn ending stocks raised 50 million bushels to 851 million bushels
12/13 soybean production projected at 3.205 billion bushels as "higher yields more than offset lower harvested acreage"
As we approach the market open we see the bid on new crop corn at 476 3/4. Bid on new crop beans sitting at 1403 1/2. It looks like we will continue to see soybeans build a premium with respect to corn as this report will weigh heavily on the corn market. Want to watch these markets trade and execute your own orders, even during the night session? Take a demo of our trading platform today!
Join us in an hour as we break down this report in detail on GrainTV.
THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.