Post by scpg02 on Dec 2, 2014 16:30:56 GMT
Record corn, soybean crops predicted
Christopher Doering, Gannett Washington Bureau 5:57 p.m. EDT August 12, 2014
www.usatoday.com/story/money/business/2014/08/12/record-corn-soybean-harvest/13967873/
Christopher Doering, Gannett Washington Bureau 5:57 p.m. EDT August 12, 2014
WASHINGTON — U.S. farmers will harvest a record haul of corn and soybeans this fall as fields throughout much of the Corn Belt experience some of the best growing conditions in years, the Agriculture Department said Tuesday.
The abundant supply of the grain and oilseed, the result of timely rains and moderate temperatures, has sent prices for both commodities tumbling to their lowest levels since 2010.
The expected record production has caused a ripple throughout agriculture, resulting in cheap feed for livestock producers and helping ethanol plants increase production but at the same time squeezing the pocketbooks of some farmers who are struggling to cover costs. Consumers could benefit from lower food prices, especially for steaks and other meats, but the effect is not expected to be felt for some time, analysts said.
~snip~
The abundant supply of the grain and oilseed, the result of timely rains and moderate temperatures, has sent prices for both commodities tumbling to their lowest levels since 2010.
The expected record production has caused a ripple throughout agriculture, resulting in cheap feed for livestock producers and helping ethanol plants increase production but at the same time squeezing the pocketbooks of some farmers who are struggling to cover costs. Consumers could benefit from lower food prices, especially for steaks and other meats, but the effect is not expected to be felt for some time, analysts said.
~snip~
www.usatoday.com/story/money/business/2014/08/12/record-corn-soybean-harvest/13967873/