Podcast: Dr. Dan O'Brien, Kansas State University, Analyzes The USDA's August 1 Crop Production Report (10 minutes)
Date Posted: August 12, 2013
The U.S. Department of Agriculture has released its August 1st estimate of crop production for corn and soybeans. Yield estimates and overall production volume for both was lowered, compared to official USDA estimates made earlier in the summer.
While the estimated production was within the range estimated by the market prior to the release of the report, the lower than expected numbers were considered bullish and the market reacted with higher prices for both corn and soybeans.
Assessing the report and offering his analysis of the data is Dr. Dan O'Brien, marketing specialist, Kansas State Univeristy (785-462-6281).