Latest Crop Report Puts Corn at Record-Breaking Pace

Corn may be headed for a record-breaking year based on this month’s USDA Crop Report. The report, released on Thursday, forecasts corn at 13.8 billion bushels, up less than1 percent from last month and 28 percent from 2012. If reached, corn production will be the highest on record for the United States. Yields are expected to average 155.3 bushels per acre, just slightly higher than last month’s forecast and 31.9 bushels above the 2012 average. Soybeans are set to produce 3.15 billion bushels, down 3 percent from August, but up 4 percent from last year. If met, this would be the fourth largest soybean production on record. Read the crop report.