USDA Crop Forecast:
|Corn Area Harvested (Mil. Acres)||85.3||79.2||87.1|
|Corn Yield/Acre (bu.)||176.7||173.3||173.8|
|Corn Price ($/bu.)||$6.00||$6.60||$4.90|
|Soybeans Area Harvested (Mil. Acres)||86.3||86.3||82.8|
|Soybean Price ($/bu.)||$13.30||$14.20||12.90|
Source: USDA WASDE
USDA Crop Condition - 18 survey states:
|% Good or Excellent||As-of: Sep 25||Previous Week||Previous Year|
|National Soybeans||50 %||52%||55%|
Source: USDA NASS
- Prices for grains and oilseeds have declined from last year, with September 2023 corn futures trading at $5.56/bu, and August soybean futures at $13.95/bu.1
- Fertilizer availability has improved, and prices have fallen significantly, although they generally remain higher than the 5-year average, depending on the type of nutrients.
- Severe drought in the Midwest could boost prices for major row crops come harvest time, but it is too early to tell what the ultimate impact on yields will be.
1 CBOT Futures
Tags: cash field
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