Smallest US Corn Crop Since 2019 Signals Higher Food Costs Ahead
- Pro Farmer corn crop estimates come in below USDA forecasts
- Outlook on US soybean crop and yields tracks USDA estimates
Photographer: Daniel Acker/Bloomberg
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The US is set to harvest its smallest corn crop in three years, dashing hopes that one of the world’s largest agricultural exporters would give some relief to a global grain supply crunch and a break on higher food prices.
The corn harvest in the world’s biggest producer will total 13.759 billion bushels, according to estimates Friday from Farm Journal Inc.’s agricultural marketing arm, Pro Farmer. That’s down 4.2% from the US Department of Agriculture’s estimate of two weeks ago and, if realized, would be the smallest bounty since 2019.