Last Thursday, the U.S. Department of Agriculture estimated a corn crop for 2017 higher than U.S. farmers have ever realized, coming in with a whopping 175.4 bushels to acre average. That would equate to a record 14.578 billion bushels of corn harvested this year.
The yield guess was significantly higher than analysts like Mike Zuzolo from Global Commodity Analytics was expecting…
“We had a sense that corn grain fill was so much better than what we’d expected versus mid-summer, but with so much corn left in the field I think the trade in general is expecting this kind of number to come in December or January we are farther down the road.
“We have eight out of 18 states behind the five-year average on the corn harvest by about 13% or more. So, we still have a lot of corn still out, and mother nature has sure slowed us down versus the first half of the harvest.”
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