The U. S. Department of Agriculture has released its latest estimate of the fall harvest. The U.S.D.A. estimates America’s farmers will produce a 12.2 billion bushel corn harvest this season. That’s one percent higher than the U.S.D.A’s estimate last month.
September’s favorable weather prompted the experts to increase their forecast of the country’s corn crop. The U.S.D.A. also estimates farmers’ in Iowa will see an average yield of 172 bushels per acre in their corn fields. The soybean crop in America will be just shy of three billion bushels. The increased prediction of the fall harvest of corn and soybeans isn’t primarily what’s driving commodity prices down.
The U.S.D.A estimates there’ll be more corn in storage at the end of the year than expected — and lots more soybeans in storage, too.