No October Surprise for WASDE10/12/2016
Markets were mixed Wednesday after USDA’s report broke the soybean yield barrier once again, raising it by almost a bushel to a record high of 51.4 bu. per acre. Meanwhile, corn yield estimates slipped a second time since USDA’s August 2016 high of 175.1 bu. per acre, falling to 173.4 bu. per acre.
Analysts largely described Wednesday’s World Agricultural Supply and Demand Estimates (WASDE) report as “neutral,” noting it did not stray far from trade estimates.