Record Year For Corn Predicted 14 Sep 13

Corn may be headed for a record-breaking year based on the latest USDA Crop Report. The report, released on Thursday, forecasts corn at 13.8 billion bushels, up less than 1% from last month and 28% 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% from August, but up 4% from last year. If met, this would be the fourth largest soybean production on record.