Grains pressured by positive weather outlook

August 28, 2015 | Grain Hedge Insights | Cody Bills

In the overnight session, the grains inched higher with corn up 1 1/4 cents soybeans up 5 cents and wheat up 1 cent. The U.S. dollar is trading mostly unchanged and crude oil is down 46 cents. The EU cut its corn production forecast this month to 58.7 million metric tons from 65.5 million metric tons last month. Europe was plagued by hot dry weather during a critical development period which reduced yield prospects significantly. The EU however raised their soft wheat harvest estimate to 140.7...

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Weekly Outlook: A Review of USDA Crop Yield Forecasting Methodology

Weekly Outlook: A Review of USDA Crop Yield Forecasting Methodology

| Online Exclusive | Darrel Good and Scott Irwin

Even though a description of the NASS crop production forecast methodology is widely available, there always seems to be some misconceptions about how NASS makes corn and soybean yield forecasts. A brief overview of that methodology is repeated here. While this summary does not do full justice to the very comprehensive forecasting methodology, it is presented to assist in placing the upcoming yield forecasts in the proper perspective.

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