The USDA’s National Agricultural Statistics Service will be releasing forecasts of corn yields at 9:00 a.m. Thursday.
USDA Outlook Board Chair Seth Meyer said they first see the numbers about three hours prior to that and they can start looking at impacts on supplys, use and prices.
“We’ll look at how we think that changes the dynamic in the marketplace. If you get a really big yield, there’s plenty of crop to go around. Or if you get a really small yield and the market has to start rationing that demand. Those mean very different things for domestic use and trade.”
It will be the first look at potential yields of corn and soybeans by the USDA.