DES MOINES, Iowa (AP) - The nation's corn and soybean farmers will bring in by far the largest harvest ever this year, the U.S. Department of Agriculture said Thursday in a new report.
Corn farmers are expected to harvest nearly 14.4 billion bushels of corn, up from last year's 13.9 billion bushel record. The yield of 172 bushels per acre is significantly higher than the previous record set in 2009 of 165 bushels per acre.
Record yields will be set in 18 states, the USDA said, and 10 states including Illinois, Iowa, and Nebraska, the top three producers, have the highest number of ears per corn stalk ever.
A massive harvest has been expected this year as adequate rain and cool temperatures made for favorable growing conditions. The expectations have driven corn and soybean prices significantly lower, but that isn't expected to make much of a short-time difference in consumer food prices. However, since the grains are staples in livestock feed, lower prices could eventually lead to a decline in the cost of beef, pork, chicken and milk.
The soybean harvest estimate also moved upward to a record of 3.9 billion bushels. The previous record was 3.4 billion bushels in 2009. The per-acre yield is now estimated at record 46.6 bushels per acre, beating the 2009 record of 44 bushels per acre.
After meeting all current demands for corn - including exports and use for animal feed, ethanol and food ingredients - the USDA estimated 2 billion bushels of corn would remain in stock. That's the highest ending stock in a decade.
Corn farmers are expected to harvest nearly 14.4 billion bushels of corn, up from last year's 13.9 billion bushel record. The yield of 172 bushels per acre is significantly higher than the previous record set in 2009 of 165 bushels per acre.
Record yields will be set in 18 states, the USDA said, and 10 states including Illinois, Iowa, and Nebraska, the top three producers, have the highest number of ears per corn stalk ever.
A massive harvest has been expected this year as adequate rain and cool temperatures made for favorable growing conditions. The expectations have driven corn and soybean prices significantly lower, but that isn't expected to make much of a short-time difference in consumer food prices. However, since the grains are staples in livestock feed, lower prices could eventually lead to a decline in the cost of beef, pork, chicken and milk.
The soybean harvest estimate also moved upward to a record of 3.9 billion bushels. The previous record was 3.4 billion bushels in 2009. The per-acre yield is now estimated at record 46.6 bushels per acre, beating the 2009 record of 44 bushels per acre.
After meeting all current demands for corn - including exports and use for animal feed, ethanol and food ingredients - the USDA estimated 2 billion bushels of corn would remain in stock. That's the highest ending stock in a decade.