USDA projects smaller corn, soybeans crops
The U.S. corn crop is projected at 14.1 billion bushels, down from last year’s record high with a lower forecast area and yield, the U.S. Department of Agriculture (USDA) said in its World Agricultural Supply and Demand Estimates (WASDE) report last week.
The yield projection of 170.7 bushels per acre is based on a weather-adjusted trend assuming normal planting progress and summer weather, estimated using the 1988-2016 time period.
The smaller corn crop is partly offset by the largest projected beginning stocks since 1988/89, leaving total corn supplies down from a year ago but still the second highest on record. The season-average farm...
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