Corn, Soy Crops Seen Below USDA Forecast After Farm Tours
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Corn and soybean production in the U.S. probably will be smaller than the government predicted after planting delays and unusually cool, dry weather stunted growth, according to the Professional Farmers of America.
The corn harvest will be 13.46 billion bushels, less than the 13.763 billion estimated this month by the U.S. Department of Agriculture, Cedar Falls, Iowa-based Pro Farmer said today in an e-mailed report, after a four-day tour this week of 2,600 fields in seven Midwest states. Soybean output will be 3.158 billion bushels, below the USDA forecast of 3.255 billion. The U.S. is the world’s largest grower of both crops.