Episode 256: Stunned, the August WASDE Story

The August WASDE dropped Aug. 12, stunning the market with a nearly 17 billion bushel corn crop prediction — shattering the previous record. The eye-popping number was helped along by a 188 bushel per acre yield estimate and an additional 2.1 million planted acres over the July figure. This news comes as a summer that was expected to be hot and dry remained persistently mild, and farmers across the country are eyeing excellent looking stands even as prices soften.

To help us understand all the details, DTN Contributing Analyst and longtime veteran of the podcast Todd Hultman joins us today. He’ll walk us through this record forecast and the corresponding demand estimates, helping us keep in mind what wildcards are still at play and what he expects as far as changes that might yet be ahead for the crop itself. Then, he’ll tackle the updates on the soybean crop, which also included a record high yield — though not likely high enough to alter the fundamental supply picture. We’ll also talk through the updates to the wheat side as a bin-busting crop in North Dakota comes into view.

Plus, hear insight on the current and emerging trade situation, think through the weather forecast as we head into harvest, and gain a better understanding of where cost of production sits today relative to price.