Corn, soybean markets lower after USDA forecasts huge cropsCorn, soybean markets lower after USDA forecasts huge crops

Crop markets moved lower near midday on Friday after USDA raised its estimates for this year’s corn and soybean harvests. Corn futures set contract lows. Corn was forecast at a record  15.15 billion bushels and soybeans were raised to 4.06 billion. USDA kept harvested acreage unchanged for the two crops, but raised yields with corn now at 175.1 bushels per acre and soybeans at 48.9.

Listen to the report using the audio link on this page.

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.