Tuesday, October 25, 2016
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Department of Agriculture Cuts Crop Outlook

By DMO Affiliate
It seems the outlook on crops in the United States just keeps getting worse and worse. After cutting their expectations last month, the Department of Agriculture sees average corn yields falling again to their lowest in 17 years. The USDA estimates corn growers to produce just 124.3 bushels per acre, down 24 bushels from the year before. The average soybean yield is also projected lower, expected to be the lowest since 2003. The United States is currently experiencing its worst drought in over 50 years. Before droughts had hit, though, the total crop yield for this year was estimated to be the biggest since 1937. As the world's largest exporter of corn, soybeans, and wheat, the drought in the United States is expected to raise food prices worldwide.
Department of Agriculture Cuts Crop Outlook

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