News
Economist is anticipating at or above-trend corn yield
Purdue University Ag Economist Jim Mintert says he is anticipating at or above-trend corn yields after a shift in expectations in the past 10 days.
“A week ago all the talk was about dry weather and hot weather and in the interim we’ve gotten some rain in a number of locations across the corn belt and the temperature forecast has changed appreciably to mostly in the upper 80s,” he says. “That sounds like pretty good corn growing weather.”
USDA left corn yield unchanged at nearly 179 bushels per acre in its latest supply and demand report.
He tells Brownfield that is being reflected in futures prices.
“History would suggest if you’re looking at doing some pricing today, and you want to do some storage, there will be an opportunity later to roll that hedge forward into one of the deferred futures contracts at a more favorable spread,” he says.
Mintert made these comments during a Purdue University webinar Tuesday.
