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Informa estimates close to USDA
Private analytics firm Informa Economics expects 2017 corn and soybean production to be near USDA estimates.
Informa vice president of client advisory and development Peter Rohde says this has been a challenging growing season, and the market continues to watch crop condition ratings.
“At this time a year ago, 74 percent of the corn crop was rated good to excellent, and today it’s 61 percent. So just that alone as many out there in the marketplace feeling like this current U.S. corn yield should be significantly lower.”
He acknowledges many have been skeptical of USDA’s August 10th corn yield estimate of 169.5 bushels per acre, but argues crop condition ratings are in line with the five-year average.
Rohde tells Brownfield soybeans are in a similar situation.
“Even though there hasn’t been a lot of perfect, optimum weather, there hasn’t been the life-threatening crop-hurting weather that’s just been killing this crop.”
The USDA yield estimate for soybeans is 49.4 bushels per acre.
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