A reduction in the estimated maize yield in the US gave some slight support to international grain prices over the past week. Last Thursday’s WASDE report lowered the US maize yield estimate for 2019 from 169.5 bushels per acre (bu/ac) in its previous report to 168.2 bu/ac in September.

This is a mere 0.033t/ac reduction in yield, but it turns into 2.75 Mt across the estimated 82 million acres of maize to be harvested there.