Grain Trade Skeptical About Production Numbers

The grain trade is taking yesterday's production numbers with a grain of salt. Farmers and experts are already looking forward to this September report, which will be based on more comprehensive data. Unlike yesterday's report, which was based on farmer surveys and satellite data, the upcoming report will include in-field surveys conducted by private crop scouts and USDA teams.

These teams will conduct hands-on assessments of corn, soybeans, and spring wheat crops, pulling back ears, counting rows, and measuring plant populations. Given that weekly crop ratings are at their lowest for the season, it seems unlikely that corn can reach a national yield of 153 bushels per acre.