An ag economist says the corn and soybean markets are reacting to better than expected yields as harvest activity picks up across the US.
Arlan Suderman, Chief Commodities Economist with Stone X tells Brownfield many farmers are pleasantly surprised considering a dry growing season.
“There are problem areas where the drought was really hard on the crop, but when you look at the national crop as a whole it is really surprising for both corn and soybeans.”
He says if the drought had a bigger impact on later maturing crops, yields may fall back as harvest winds down, but the market is growing more comfortable that supply will be adequate to meet lower demand.
