Many U.S. corn farmers are generating yields better than the government projected last month, signaling this year’s harvest results won’t be as dire as once feared following a Midwest summer heat wave, according to Chicago-based futures broker Linn Group, Inc.
Corn yields will average an estimated 148.9 bushels an acre nationwide, Linn Group said in an Oct. 6 report. That forecast is higher than the 148.1 bushels an acre average the U.S. Department of Agriculture estimated in a September report.
Linn Group is among several brokerages and advisors that released updated corn and soybean production outlooks this week ahead of the USDA’s next Crop Production report, scheduled for Oct. 12. The USDA will also release its monthly Supply and Demand updates the same day