By Jon Scheve

The USDA’s September Supply and Demand Report made only minor adjustments. Planted corn acreage was raised slightly while yield estimates were trimmed. Higher export projections offset the additional bushels, leaving carryout nearly unchanged from last month.

The market responded by trading higher, likely because many traders think the yield estimate is still too high, given the widespread disease pressure and some late-season dryness throughout the United States. Yield estimates will remain relatively uncertain for another month until harvest results become more available, and the USDA provides updated numbers in next month’s report.

Early yield results Early harvest results I’m seeing seem inconclusive. Some farmers along the Nebraska-Kansas line are reporting yields 5%

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