Crop report trims corn harvest, but boosts beans
The U.S. soybean crop is getting bigger, while expectations for the corn crop are shrinking, the U.S. Department of Agriculture (USDA) said Sept. 11 in its monthly crop production report.
But with demand estimates for both crops going the same direction — higher for soybeans and lower for corn — long-term price impacts will likely be minimal, said Iowa State University Extension grain marketing economist Chad Hart.
"This was what we’d call one of our classic mixed reports," Hart said. "There was a little bit for the bulls and a little bit for the bears."
U.S. corn production is forecast at 13.6 billion bushels, down less than 1 percent from...
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