AUDIO COMMENTARY

Ag Forum Outlook Recap
What the numbers mean
Being patient in sales

Listen to today’s audio below

50% OFF PRESIDENT'S DAY SALE

We extended our sale through the rest of the week. Last chances to get half off yearly or monthly

Ag Forum Outlook Numbers

Acre numbers came in line for corn, low on beans, and high on wheat. Combined corn/soy/wheat area is at 228 million acres. That would be highest in 7 years.

Yield estimates came in higher than last year across the board.

Corn yield is set at 181.5 bushels an acre vs 173.3 last year
Wheat yield set at 49.2 vs 46.5 last year
Beans yield set at 52.0 vs 49.5 last year

Almost everyone agrees that corn yield is far too high. Keep in mind the record yield is 176.7, and they have us at 181.5. On average, the USDA has missed by 6.5 bushels to the downside.. So it’s probably safe to say that this number is far too high.

The USDA has a billion bushel more production, and the yield would be a record by 5 bushels. We don't even have the crop in the ground.

Chart Credit Karen Braun @kannbwx on Twitter

Charts

Corn 🌽
Ugly day for corn, as we finally break out of our choppy recent trade, and break hard to the downside. Falling past both upward support trendlines.

Soybeans 🌱
Beans still remain intact with their uptrend from October, nearing the trendline support following us testing our recent highs.

Chicago Wheat 🌾
Not much change from yesterday. Earlier this week we broke our recent uptrend. However, we do still sit above our previous downtrends.