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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