Crop Tour is a fact finding mission with a goal of getting a strong, objective view of corn and soybean yield potential from one big field across the seven states we sample through the third full week of August. This year’s crop has been one of the most hyped up we have seen, with USDA anticipating a smash of both trendline yield and the prior record. Since this is the first widespread look at objective data from the field, the samples pulled across the Corn Belt will give key insight into whether this crop is all it is cracked up to be.
You can still register for Crop Tour in the link below. Going in person allows for insights not found on the simulcast that will detail what is found during the Tour.
Register to go to Crop Tour and watch the results live here.
Crop conditions have persisted at multi-year highs. Ahead of recent USDA reports, we thought that would lead to a record yield print, but USDA even surpassed our lofty expectations, printing a projected yield of 188.8 bu. per acre. USDA anticipates a record yield in five of the seven Crop Tour states — all but Ohio and Nebraska.
Precipitation has been prevalent across the Corn Belt this year. Only 3% of corn acres are in a drought, according to the drought monitor. The question remains, has it been too much rain? The market does not seem to think so. Ahead of USDA’s Crop Production Report, we thought the market was trading around a 185 bu. per acre yield. The market confirmed that in the bearish reaction to the 188.8 bu. print. Whether or not the objective yield data supports that is what we are trying to find out.