Commodities
USDA Cuts Corn, Soybean Yields, Favoring Grain Markets
The USDA's August 2026 crop report has been released, and it's friendly for grain markets. The US saw a cut in crop yields for both corn and soybeans.
The report projects corn yields at 178.5 bushels per acre (bpa), while the USDA estimated 180.7 bpa. Soybean yields are expected to be around 52.1 bpa, with the USDA projecting 52.7 bpa.
Crop conditions in the US have been steady or lower overall, but North Dakota's crop conditions continue to decline.
Other factors affecting grain markets include Ukraine drone attacks on Russian ports, which are boosting wheat futures, and a smaller-than-expected French/EU corn crop. The market is also influenced by recent inflation data in the US, which has eased price pressure slightly.