Pay attention to two elements of today’s USDA reports in particular, experts tell U.S. Farm Report Market Roundtable – projected corn yields and soybean acres. They should have a key role in how the markets move this week.
"Eight of the last 20 years we’ve seen an increase in corn yield on this report," says Dustin Johnson, EHedger. "I would say that the average guess at 157.7 for the corn yield, I think that’s a little bit low. I think final corn yield could come in over 160 when we get to the end, but I wouldn’t be surprised (on this report) to see a 158."
(Click to read complete coverage of the August 12, 2013 reports from USDA)
Included in the report will be an update on soybean acres, and Tommy Grisafi of Indiana Grain Company says that will also be significant to the markets.
"If they change the acres real big, and we don’t have as many acres, Dustin’s of the thought that we might have more corn acres and bean acres even with the prevent plant, that could have a really bearish effect."
Watch the two videos below for a complete analysis of those issues and more from the U.S. Farm Report Market Roundtable: