Report Recap: Big surprises with bullish corn and soybeans

In a major report day from USDA on January 10, U.S. corn and soybean yields were adjusted downward more than analysts had anticipated. The national corn yield was reduced by 3.8 bushels per acre, bringing it below 180 bushels per acre, while soybean yield estimates declined by one bushel to 50.7 bushels per acre.

In this special video report, Ohio Ag Net’s Joel Penhorwood hears from Doug Tenney of Leist Mercantile to dig into the numbers, how markets closed the day, and Doug’s advice on how producers should take advantage of this surprise “gift” for corn and soybean prices.

Additional note: The Ohio Ag Net Ohio Crop Tour landed on an estimate of 181.8 bushels/acre, with soybeans averaging 55.6 bushels. USDA’s official Ohio numbers ended up at 177.0 for corn, and 50.0 for soybeans.… Continue reading