Highlights from Today's USDA Crop Report (CORN) (WEAT) (SOYB)
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As anticipated, the USDA cut its corn forecast in today's crop report, which predicts national corn production will be 10.8 billion bushels, its lowest level since 2006. Yields are expected to average 123.4 bushels per acre, down 23.8 bushels from 2011. If realized, this will be the lowest average yield since 1995.
Soybean production is forecast at 2.69 billion bushels, down 12 percent from last year. Yields are expected to average 36.1 bushels per acre, down 5.4 bushels from last year. If realized, the average yield will be the lowest since 2003.
All cotton production is forecast at 17.7 million 480-pound bales, up 13 percent from last year. Yield is expected to average 784 pounds per harvested acre, down 6 pounds from last year.
All wheat production, at 2.27 billion bushels, is up 2 percent from the July forecast and up 13 percent from 2011. The United States yield is forecast at 46.5 bushels per acre, up 0.9 bushel from last month and up
2.8 bushels from last year.
Teucrium Corn ETF (NYSE: CORN) is lower by 0.42 percent today.
Teucrium Wheat ETF (NYSE: WEAT) is lower by 1.78 percent.
Teucrium Soybean ETF (NYSE: SOYB) is higher by 0.94 percent.
Soybean production is forecast at 2.69 billion bushels, down 12 percent from last year. Yields are expected to average 36.1 bushels per acre, down 5.4 bushels from last year. If realized, the average yield will be the lowest since 2003.
All cotton production is forecast at 17.7 million 480-pound bales, up 13 percent from last year. Yield is expected to average 784 pounds per harvested acre, down 6 pounds from last year.
All wheat production, at 2.27 billion bushels, is up 2 percent from the July forecast and up 13 percent from 2011. The United States yield is forecast at 46.5 bushels per acre, up 0.9 bushel from last month and up
2.8 bushels from last year.
Teucrium Corn ETF (NYSE: CORN) is lower by 0.42 percent today.
Teucrium Wheat ETF (NYSE: WEAT) is lower by 1.78 percent.
Teucrium Soybean ETF (NYSE: SOYB) is higher by 0.94 percent.
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