Hello Kansas Wheat.
There were two major surprises this past week. The outcome of the Presidential Election was a shocker, no question. And in my opinion, the November WASDE update was just as shocking.
The national corn average was RAISED almost 2 bushels per acre, completely reversing the recent trend of a slowly deteriorating corn yield picture. This chart shows what the USDA WASDE’s national average corn yield estimates were previously, and the Friday’s Z corn close of that week:
This is a bearish Dec corn chart (with WASDE dates). The combine exit polls did not predict the yield…