USDA will release its highly anticipated August Crop Production report Thursday. It's the first spring crop forecast based on farmer surveys and field inspections. In the recent past due to the late development of crops the August report has been a bit tentative. According to Lance Honig at USDA's National Agricultural Statistics Service it's a different story this year.
"The maturity level of the crops is far more advanced than last year in particular," Honig said. "Certainly the more advanced the crop is the better able producers are to probably determine what that final yield is going to be. Of course weather always plays a role. Our forecast of course will be based on conditions as of Aug. 1 and we'll see what happens after that."
USDA will release the report at 7:30 a.m. Central time on August 12.
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