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USDA Releasing Major Crop Production Report On Friday

The USDA will be releasing a major crop production report on Friday.
 
Keith Ferley is a Commodity Futures Specialist with RBC Dominion Securities.
 
"We're looking for a little bit of a reduction on the corn yield, about a bushel, bushel and a half per acre," he said. "The concern is that they may lower the exports out of the U.S. We've seen a crop that they've counted corn in the field as being corn harvested. As growers know, that's not reality. That's one situation where we're looking for the average corn yield to come down in the U.S. At the same time, exports have really been struggling. The U.S. has been undercut in the global market, so that's one area that we may see a reduction in exports of corn out of the U.S."
 
The first U.S. winter wheat seeding acres will also be revealed in Friday's USDA report.
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This material is based upon work that is supported by the National Institute of Food and Agriculture, U.S. Department of Agriculture, under agreement number 2023-38640-39573 through the North Central Region SARE program under project number ENC23-226. USDA is an equal opportunity employer and service provider. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and should not be construed to represent any official USDA or U.S. Government determination or policy.