Pro Farmer Tour Estimates Suggest Smaller Corn Crop Than Expected
The latest crop tour estimates have been released for the upcoming corn and soybean harvest. The results from the Pro Farmer Tour, which took place on August 17-20 in key commodity crop producing states such as Illinois, Indiana, Iowa, Minnesota, Nebraska, Ohio, and South Dakota, showed a smaller-than-projected corn crop and similar soybean crop compared to the USDA's World Agricultural Supply and Demand Estimates report.
The tour estimated the national average corn yield at 173.2 bushels per acre, more than seven bushels less than the USDA's estimate of 180.7. The soybean estimates were closer, with Pro Farmer putting the average national yield at 53.3 bushels per acre versus the USDA's 52.7.
The grain futures reacted to the results, with corn futures trending upward and soybean futures retreating following the release of the tour's findings.