Weather will continue to be a driving force as production prospects are better realized over the course of the next month. The USDA cut expected yield 4 bushels this week to 177.5 bushels per acre. Many thought this was not enough, although the data only shows that there is no real correlation between additional cuts to yield or if the final yield will end up higher. This uncertainty will continue to add volatility in the market until a better idea of how yield will turn out is realized. Recent rains have reduced crop stress, but rains have come on an “as needed” basis and soil moisture is anything but abundant. Rain is expected to fall on a regular basis through next Friday, but conditions are expected to dry out after that, says World Weather Inc. Meanwhile, the northern Plains are expected to continue to dry out over the next week, although below average temperatures will help minimize evaporation, according to World Weather Inc.
