Photo credit: Iowa Department of Agriculture and Land Stewardship
Wednesday’s corn production estimate of 15-point-three billion bushels from USDA did not take into account the extensive damage caused by this week’s derecho windstorm in the Midwest.
Market analyst Arlan Suderman with StoneX is estimating the loss at 200 to 400 million bushels.
“I estimate that the damaging winds probably were felt over about six-and-a-half million acres of corn,” Suderman says. “And then you’ve got everything from total loss, where it just totally snapped off, to a bushel or two loss because of some stalk damage.
