In this file:

 

·         USDA Drops U.S. Corn Yield Slightly, Markets Drop

Soybean prices plunged 33¢, off of a higher yield estimate.

 

·         ‘230-Bushel Corn Is Fantastic,’ LA Ag Agent Says

Record corn crops are coming out of fields in the South.

 

 

USDA Drops U.S. Corn Yield Slightly, Markets Drop

Soybean prices plunged 33¢, off of a higher yield estimate.

 

By Mike McGinnis, Successful Farming

Agriculture.com - 8/10/2017

 

DES MOINES, Iowa — The U.S. corn crop is getting smaller, while the soybean crop gets bigger, according to the USDA.

 

In its August Supply/Demand Report Thursday, the USDA pegged the 2017 U.S. corn yield at 169.5 bushels per acre vs. the USDA’s July estimate of 170.7 and the average trade estimate of 166.2 bushels per acre.

 

For soybeans, the USDA’s U.S. yield is estimated at 49.4 bushels per acre vs. the trendline forecast of 48.0 and the average trade estimate of 47.5 bushels per acre.

 

As a result, the CME Group futures markets have dropped.

 

At the close, the Sept. corn futures finished 15¢ lower at $3.57 1/4, while December futures closed 15 1/4¢ lower at $3.71.

 

Sep. soybean futures closed 32¢ lower at $9.34, November soybean futures settled 33¢ lower at $9.40 1/4.

 

September wheat futures finished 19¢ lower at $4.40.

 

Dec. soy meal futures ended $12.70 per short ton lower at $300.20. Dec. soy oil futures settled at $0.37 lower at 34.16¢ per pound.

 

In the outside markets, the Brent crude oil market is $0.97 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 124 points lower.

 

The U.S. 2017 corn production estimate is 14.15 billion bushels vs. the previous USDA estimate of 14.25 bushels per acre and the average trade estimate of 13.85 billion bushels.

 

For soybeans, the USDA pegged the 2017 production at 4.38 billion bushels vs. the USDA’s July estimate of 4.26 billion and the average trade estimate of 4.212 billion...

 

U.S. Ending Stocks ...

 

Trade Reaction ...

 

more, including table

http://www.agriculture.com/news/crops/usda-drops-us-corn-yield-thursday

 

 

‘230-Bushel Corn Is Fantastic,’ LA Ag Agent Says

Record corn crops are coming out of fields in the South.

 

By Mike McGinnis, Successful Farming

Agriculture.com - 8/10/2017

 

While Midwest farmers try to figure out what their crops will be like this fall, some southern U.S. farmers are seeing record yields on their combine monitors.

 

Louisiana Combines Roll

 

While not a major corn-producing state, Louisiana has had Iowa-like corn weather and the harvest, in its third week, is showing it.

 

Keith Collins, a Louisiana State University Ag Center Extension agent located in Richland Parish, says some farmers are already 50% harvested with yield averages of 230 bushels per acre.

 

“We’ll have a record crop, probably,” Collins says. “The crop is fantastic. One area farmer told me that for the first time in his 35-year career, he has corn like Iowa.”

 

This northeastern Louisiana parish has a lot of on-farm storage. So, farmers are harvesting corn with 25% moisture and then drying it down, Collins says.

 

And the story gets even better...

 

Mississippi Corn, Soybean Harvest ...

 

more

http://www.agriculture.com/news/crops/230-bushel-corn-is-fantastic-la-ag-agent-says