The weather issues affecting this year’s U.S. corn and soybean crops
could lead the USDA to lower production estimates Thursday. Planting got off to
an historically slow start because of excessively wet weather in many areas and
conditions during the growing season have ranged from too wet to too dry,
keeping development slow and crop ratings at their lowest levels in years.
On average, the corn production estimate is expected to be down more than 100 million bushels on the month at 13.684 billion bushels, while beans are projected to fall 50 million bushels to 3.583 billion, with both expected to see lower average yield and harvested area projections as well.