Facebook Twitter

AGENCY PREDICTS A RECORD CROP OF SOYBEANS, NEAR-RECORD FOR CORN

SHARE AGENCY PREDICTS A RECORD CROP OF SOYBEANS, NEAR-RECORD FOR CORN

The Agriculture Department projects a record soybean crop this year and the second-highest corn crop.

In its first estimate based on field conditions, the department pegged the soybean harvest at 2.28 billion bushels, up 26 percent from last year's flood-shortened crop and up 4 percent from 1992.The corn crop was estimated at 9.21 billion bushels, up 45 percent from 1993 and just 3 percent below the 1992 record crop.

Wheat production was forecast at 2.39 billion bushels, down 1 percent from July 1 and the 1993 harvest.

With the harvest all but complete, the final forecast for winter wheat was put at 1.67 billion bushels, up 1 percent from the July 1 estimate.

The forecast for durum wheat, a spring variety used to make pasta and being harvested now, was lowered by 3 percent from last month down to 97.9 million bushels.