Summer Heat and Corn Yields

T. Marc Schober submits:The USDA updated the U.S. and World balance sheet estimates for major agricultural commodities in the World Agricultural Supply and Demand Estimates (WASDE) report yesterday (click here for report). WASDE reports in the summer are a barometer of overall world demand, forecasted production, and inventory adjustments. In June, U.S.

By T. Marc Schober:Corn and soybean conditions decreased for the second consecutive week due to the lack of precipitation across much of the Corn Belt. Rains came across less than half of the Corn Belt this weekend and fell short of the much needed moisture. Dry and hot weather conditions are forecasted for the rest of this week.

T. Marc Schober submits:The USDA updated the U.S. and World balance sheet estimates for major agricultural commodities in the World Agricultural Supply and Demand Estimates (WASDE) report on Tuesday. Reports have been coming in about lower U.S. corn yields by many farmers across the country due to a wet June and a dry August. This is what led the USDA to make another reduction in the U.S. corn yield to 154.3 bushels per acre from 155.9 bushels per acre last month. Last year the U.S.

T. Marc Schober submits:The USDA updated the U.S. and World balance sheet estimates for major agricultural commodities in the World Agricultural Supply and Demand Estimates (WASDE) report on Friday. Hot and dry weather across much of the U.S. caused a reduction in corn yields, especially in the Midwest. Estimates of U.S. corn yields were decreased to 162.5 bushels per acre, below last year’s record of 164.7 bushels per acre.

By T. Marc Schober:Corn stocks were 14% below last year's levels and the lowest Q3 number since the 3.04 billion bushels in June of 1998, indicating strong global demand for corn. The USDA estimates in 2012 the U.S. will plant 96.4 million acres of corn, the most since 1937 when an estimated 97.2 million acres were planted; this came as no surprise as corn planted acres fell in line with analysts' expectations.

The chart above displays annual U.S.

James Cordier submits:There had been whispers all summer about dry weather across the US Midwest hampering corn yields this fall. But few expected the sharp reduction in yields and ending stocks reported by the USDA in Friday’s monthly supply/demand report.The USDA reports the average yield per acre for this year’s US corn crop will drop to 155.8 bushels of corn as compared to last month’s estimate of 162.5 bushels per acre.

By T. Marc Schober:Corn and soybean conditions declined by another 8% this week due to continued hot and dry weather across the Corn Belt. Farmers are starting to realize that a large chunk of their corn crop has been lost to the heat wave.