August Crop Yield Estimates

Commodity markets dropped sharply after the USDA issued its August yield estimates. Corn and soybean production estimates came in significantly higher than most of the pre-report expectations. Dr. John Newton with the American Farm Bureau Federation explains.

And the reaction to the crop yield forecast may depend on what you grow and where you farm. The USDA's Seth Meyer tries to explain.

Dr. John Newton with the American Farm Bureau Federation says the bottom line is - those crops are not going to be worth as much as farmers thought.

Newton says the key thing to remember is these aren't the final numbers. so there will be opportunities for USDA to make adjustments in yield projections