Markets & Management

As we approach harvest season and have a better idea of what yields will look like, USDA starts estimating yields based on actual survey results. The Aug. 12 Crop Production report is the first  estimate this year to use actual corn survey data to estimate yields. As with every year, different parts of the U.S. have had varying amounts of rainfall. The growing season in the West, High Plains  and parts of the Midwest have been severely impacted by drought. According to the U.S. Drought Monitor on Aug. 12, over 98% of the West is experiencing some degree of drought, while 76% of  the High Plains is dry, and 38% of the Midwest is under some degree of drought. In the Midwest, the western-most states are more severely impacted by drought than the eastern Midwest states.  Drought is affecting nearly 99% of Minnesota and 76% of Iowa with other Midwestern states only locally affected. Read More