U.S. corn yield will fall below the government forecast of 170.7 bushels per acre.

It seems likely that U.S. corn yield will fall below the government forecast of 170.7 bushels per acre, and even though a smaller harvest would shrink the burdensome carryout, the effect may be lighter than one might expect. USDA will reduce its projection for U.S. corn yield when the agency releases its first survey-based yields on Aug. 10. Imperfect weather thus far has sent crop health ratings to a five-year low, and forecasts have not yet rid themselves of damaging heat and dryness. United States will begin the 2017/18 corn marketing year on Sept. 1 with an inventory of 2.37 billion bushels. When the year concludes, the country is projected to have reduced that supply by just 2 percent to a still-heavy 2.325 billion bushels.