U.S. corn, soy harvest forecast cut after hot August – government
U.S. corn and soybean production will be smaller than previously forecast, as hot and dry weather during August in western growing areas cut into yield potential for both crops, the government said on Monday.
Farmers will likely harvest a corn crop of 13.944 billion bushels, based on an average yield of 172.5 bushels per acre, the U.S. Agriculture Department said in its monthly World Agricultural Supply and Demand Estimates report. Soybean harvest was pegged at 4.378 billion bushels, with average yields seen at 50.5 bushels per acre.
In August, USDA had projected a corn crop of 14.359 billion bushels and a soybean crop of 4.531 billion bushels.
Source: Reuters (Reporting by Mark Weinraub. Editing by P.J. Huffstutter.)