Farmers Face Storage Crunch With Bumper U.S. Harvest Looming
- Analysts project U.S. corn, soybean crops at all-time highs
- Combined production, inventories may outstrip storage capacity
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There’s an avalanche of grain coming as U.S. farmers gear up to harvest record corn and soybean crops. And one question looms large: where will it all go?
Growers are clearing bin space and elevators are prepping outdoor facilities to manage the surge of grain that will come off combines starting this month. But it may not be enough. U.S. supplies of corn, soybeans and wheat -- including newly harvested crops along with leftover inventories from last season -- will outstrip all crop storage capacity for the first time in records through 1988, government data and analyst estimates show.