date:Sep 05, 2012
, added Rich Nelson, director of research for Allendale, which on Tuesday projected a national yield of 118.2 bushels per acre based on farmer surveys. The U.S. Department of Agriculture estimated 123.4 bushels per acre in August.
Uncertainty about the crop, and expectations that the USDA's most recent estimates for both yield and harvested acreage are too high, will limit the market's downside, Mr. Karlin said.
I think the market is content to sit here at $8, Mr. Karlin said.
CBOT wheat futures