Corn and Soybean Crops Keep Getting Larger

The U.S. Department of Agriculture (USDA) has increased its most recent estimate for this fall’s corn and soybean crops. The latest estimate for corn is a record of 14.475 billion bushels. This is a 3.9% increase over the previous record crop of 13.925 billion bushels in 2013. The average yield is estimated to reach 174.2 bushels per acre. The USDA estimated that farm-gate prices will average approximately $3.40 per bushel for this year’s crop. The soybean crop is estimated at 3.927 billion bushels which is 17% larger than last year’s crop of 3.358 billion bushels. Yields are forecast to reach a record 47.1 bushels per acre. The USDA is estimating an average of $10 per bushel for soybeans.

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