(Posted Thu. Nov 8th, 2018)
According to the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and demand Estimate (WASDE) report released today, U.S. corn production is projected to reach 14.62 billion bushels for 2018/19. If realized, that would make it the second largest U.S. corn crop ever.
The October forecast for corn production is lowered 152 million bushels from last month on a reduced yield forecast. Despite lowered use forecasts, the corn price forecast was raised by 10 cents to a midpoint of $3.60 per bushel as supply fell more than use.
Click here to read the full report.