USDA World Agricultural Supply and Demand Estimates – August 10, 2017

Here is the quick look at the USDA World Agricultural Supply and Demand Estimates

The United States Department of Agriculture surprised the trade today with their yield forecasts for soybeans & corn.

USDA increased 2017-18 U.S. soybean yield by 1.4 bu/ac to 49.4 bu/ac, all the while the trade was looking for a slight reduction in yield from the July report to 47.4 bu/acre.

2017-18 U.S. corn yield is projected to be 169.5 bu/acre, down 1.2 bu/ac from the July report. However, this also came as a surprise to the trade, as the average pre-report trade estimate was for a reduction in yield of 4.7 bu/ac to 166.0 bu/acre.

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