All eyes on corn numbers in Friday’s WASDE report
USDA’s monthly supply and demand report comes out Friday. Analysts say the corn numbers will draw the most interest, primarily the new crop ending stocks, which will be adjusted to reflect the lower planted acreage for corn released last week.
One of the questions is whether USDA will also lower its corn yield estimate for this year’s crop. Analyst Jeff Peterson with Heartland Farm Partners says that’s not likely.
“Normally we don’t see too much of an adjustment from the June to July yield,” he says. “Unless we’ve had some extreme weather conditions. Even though we have some warm conditions and some dry conditions showing up, so far, I think the yield forecast they have is just fine.”
That report will be out at noon Eastern, 11 Central on Friday.
AUDIO: Jeff Peterson, Heartland Farm Partners