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Aug. 12 report will add corn clarity

The size of the 2013 U.S. corn crop remains clouded by both acreage and yield uncertainty resulting from the late planting and late maturity of the crop in some areas, according to Darrel Good, University of Illinois ag economist. Summer weather conditions have been generally favorable for crop development, but with some important exceptions. USDA will release its first survey-based yield and production forecasts on Aug. 12. Confirmation of large production prospects would suggest that some further modest price weakness would be expected, as the 2012 “long tail” price pattern is completed near harvest.