Cool temperatures and adequate rainfall in most of the Midwest this year are key drivers of the expected bumper corn and soy crops, Farm Futures Senior Editor Bryce Knorr told NPR Here & Now host Jeremy Hobson on Wednesday.
Despite sections of the Corn Belt receiving smaller rain amounts and concerns of too few growing degree days, the corn crop is likely to yield well overall, Knorr said.
"Farmers planted less corn than they did a year ago," Knorr said. "Corn technology, the actual seeds itself keep improving and provide better yields so over time, what's a 'normal' crop keeps getting bigger."
Most of the record crop will move into ethanol, export and livestock feed markets, Knorr said.
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Bryce Knorr, Senior Market Analyst, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.