USDA Report Creates Little Market Reaction

The U.S. corn pile is growing but not as large as expected, at least for this marketing year, the USDA reported Tuesday.

In its May Supply/Demand and WASDE Reports, the USDA pegged this year’s U.S. corn average yields at 178.5 bushels per acre. If realized it would produce a crop size of 15.995 billion bushels.

Because the USDA released corn numbers that have already been built into the market, the corn prices didn’t have much of a reaction to the new data, reports Successful Farming.