AS anticipated following the U.S. Department of Agriculture's June 30 acreage report, this year's corn and soybean crop will bring plenty of supplies to refill dwindling stocks. However, in its "World Agricultural Supply & Demand Estimates" report released July 10, USDA did not increase its yield estimates from month-ago levels despite continued good crop conditions. At current estimates, this year's corn production will be the second largest ever at 12.29 billion bu. using an average yield of 153.4bu. per acre. Many had believed USDA would increase the average yield at least 2 bu. per acre (Table 1).
展开▼
