Episode 260: New Acres Materialize in the September WASDE

The September WASDE dropped Friday, Sept. 12, bringing relief to many as USDA announced that the record 188 bushel/acre yield estimate for corn they’d published in August had been cut more than two bushels per acre — amounting to a reduction of millions of bushels of anticipated supply. However, USDA’s report also announced an unprecedented update to acre figures, which meant that lower bushel per acre figure was almost totally offset. It seems that whichever way you slice it, there’s a monster crop about to be brought in from U.S. fields. This week, DTN Lead Analyst Rhett Montgomery is back to take us beat-by-beat through the latest report, offering insight on how crop conditions and weather have likely affected USDA’s reporting, and what still might change between now and the end of the season.Rhett will guide us down the balance sheets for each of the major grains, teasing out the most impactful changes in terms of demand, exports, and global supply as the attention of world markets turns towards the Southern hemisphere. We’ll also hear about market reactions since the report was published, and get the latest update on the basis picture.