Corn and soybean producers are awaiting USDA's September crop estimates, which could provide a clearer picture of how summer weather affected this year's harvest. USDA will release its September World Agricultural Supply and Demand Estimates report Friday, Sept. 11. The report will update projections for U.S. and global production, demand, exports and ending stocks. Market attention is particularly focused on corn. Agriculture.com reports analysts expect USDA could lower its new-crop corn yield estimate following reports of weaker-than-expected crop potential in portions of the Corn Belt. The August WASDE reduced old-crop corn carryout by 75 million bushels and soybean stocks by 5 million bushels. Friday's report comes as corn harvest begins and national crop ratings continue to deteriorate. Any reduction in expected production could tighten projected supplies and provide support for grain prices. Conversely, larger-than-expected production estimates could add pressure as newly harvested grain reaches the market. The report is scheduled for noon Eastern time Friday.
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