Weekly Commentary - September 25, 2017
For the first time in nine weeks, the Gro US corn yield model’s estimated value has fallen slightly, from 173.0 bu/ac (or 10.86 tonnes/hectare) to 172.9 bu/ac (or 10.85). The change occurred due to similarly small changes in satellite greenness indications. This is effectively an unchanged result. Accordingly, our view remains bearish on corn prices, calling for a yield higher than either the USDA, the general trade consensus, or the long term trend.