The U.S. Agriculture Department has lowered its forecasts for this year’s corn and soybean harvests. The U.S.D.A. now estimates this year’s corn harvest will produce 12.1 billion bushels. That’s down 2 percent from the August forecast and is blamed in large part on dry weather last month around the Corn Belt.
The U.S.D.A. believes corn yields will average 152.3 bushels per acre this fall, down from the 155 bushels per acre forecast in August. The soybean harvest forecast dropped a half bushel to 40 bushels per acre. In Iowa, the U.S.D.A. estimates the corn yield will hit 168 bushels per acre, a drop of three bushels from August.