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Near-Record Corn Crop To Help Keep Food Price Hikes Down
The Agriculture Department forecasts a near record corn harvest of about 6.09 billion bushels aided by rains, with private forecasters predicting possible surpassing of last year’s 6.22 billion. A large crop should provide cheap feed through winter and spring, helping hold food price inflation around 6 percent, though net farm income may fall to a five year low. The report also cites a 1.6 billion bushel soybean crop and 13.5 million bales of new cotton, with drought drought-adjusted corn estimates cut 4 percent from earlier forecasts.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Department
Howard Hart
Hjort
America
Crop Reporting Board