Corn, Soy Yields Shrink in Hottest U.S. Summer Since 1936
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The hottest, driest summer since 1936 in the Midwest eroded yield prospects for corn and soybean crops in the U.S. for a third year to the lowest since 2003.
Prospects of lower output were confirmed this week during a four-day, seven-state sampling of about 2,400 fields in the Midwest organized by the Professional Farmers of America newsletter, which will report its findings later today. A Bloomberg survey of 14 tour participants showed 13 expected the government to cut its corn-harvest forecast and 12 predicted a reduction for soybeans.