“IMO current ratings suggest an average U.S. corn yield of 184.3 bpa with production at 16.107 bil., just above the USDA forecast of 16 billion. That said I lean toward lower ratings and yield expectations down the road given the concerning forecast for the WCB,” Mark Soderberg of ADM Investor Services said. “Dr. Codonnier lowered his U.S. yield forecast 1 bpa to 181 with a neutral-to-lower bias moving forward. AgRual reports Brazilian harvest has reached 49% as of late last week vs. 55% YA.”
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