USDA’s projected average U.S. corn yield of 152.8 bushes per
acre could fall by a couple of bushels before all is said and
done, according to Al Kluis, Northland Commodities, LLC,
speaking at a Minneapolis Grain Exchange press briefing on
USDA’s Aug. 10 supply and demand estimates.  The higher
estimated yield was due to record stalk counts and pushed
estimated U.S. corn production to 13.1 billion bushels.  “One
thing to keep in mind is the report is based on conditions as of
Aug. 1. If the information were gathered today, we would not see
the same potential for corn. My projection is for average yields
of 149 bushels to 150 bushels.”  Kluis’ projection would drop
projected production back to 12.7 billion to 12.8 billion
bushels, essentially unchanged from last month.  Projected corn
usage is better than expected as USDA increased exports and
ethanol use. A lower dollar value is part of the reason for the
higher exports, according to Kluis. “We’re probably the cheapest
source of wheat and corn in the world. So