Report: Farmers on Pace to Have Record-Setting Corn, Soybean Crop

U.S. farmers are set to produce the largest corn and soybean crop in history, according to the USDA Crop Production report released today. As of Aug. 1, corn yields are expected to average a record-high 165 bushels per acre, which is up 0.3 bushels from last year’s record-setting yield. Soybean yields are expected to equal last year’s record of 44 bushels per acre. Cotton production also is expected to jump 52 percent from last year to 18.5 million, 480-pound bales. Review the report.