If you followed along on the ProFarmer yield tour last week, you’ll know that temperatures were not kind to the field scouts, with day time temps soaring well above 100 degrees F.
Ted Seifried, chief market strategist for Zaner Ag Hedge, has been on the tour nine times, and says this has to be one of the more challenging tours he’s been on.
Still, it’s a great opportunity to literally dig in to the soybean and corn crop in the closing days of August to check in on a wider swath of the country. Seifried says that ProFarmer uses data gleaned from the tour to try and peg the final U.S. production figure, but that Zaner Ag Hedge has its own number, too.
Seifried says that the extreme heat is definitely a concern for where the final yield ends up on both corn and soybeans, but he’s more optimistic on the soybean crop than ProFarmer’s official estimate of a top end of 50.7 bu/ac on average.
“We’re at 51.4,” Seifried says, as in his view there’s been some timely rain in some areas where the crop was less mature, allowing it to still make some yield from that moisture.
Listen on for the full break-down of corn and bean markets right now or download the podcast for later: