Weekly Commentary - September 9, 2017
Gro’s US corn yield model moved higher for the seventh consecutive time over the past week, moving from 170.6 bushels/acre (or 10.71 tonnes/hectare) to 172.0 (or 10.80). Gro’s forecast is solidly bigger than USDA’s and above consensus trend yield. Satellite greenness indicators have passed their seasonal peaks in most of the Corn Belt. As a result, crop condition scores have become more important factors in the model. Increases in good-to-excellent ratings in Iowa and Illinois outweighed deterioration elsewhere. Gro’s model remains on the price-bearish side of the market going into tomorrow’s USDA Supply/Demand report.