This is traditionally a time for measured yields and acreage from the U.S. Department of Agriculture (USDA). Those numbers will come next Monday, August 12.
INTL FCStone, a private forecaster, released its estimates at the beginning of the month. Their chief economist, however, says he has little confidence in the accuracy of either yield or acres.
AUDIO: Money Matters
The latest sign of how delayed this season has been for corn, is the report from INTL FCStone that came out on Thursday.
Corn yield was set at 167.4 bushels per acre with a total crop size of almost 14 billion bushels.
Soybean yield was set at 47.2 bushels per acre with a total crop size of 3.75 billion bushels.
I spoke with Arlan Suderman, chief commodities economist with INTL FCStone, and asked how much confidence he had in the yield number for corn. Likewise, the acreage number.
AUDIO: Arlan Suderman, INTL FCStone