July 15, 2014
 

USDA projects lower corn harvest, higher soybean

The US Department of Agriculture (USDA) says farmers will harvest less corn this year than earlier projected, but that the soybean harvest could set a record, AP reports.

The crop estimate for corn was reduced by 75 million bushels to 13.86 billion bushels, which is 65 million bushels below last year's record.

The USDA notes that corn appears to be in good condition, but that much of the success for this year's harvest depends on the weather as corn enters its critical pollination phase in mid-July.

Meanwhile, soybean production has been boosted to a record 3.8 billion bushels, up 165 million bushels from last month.