June 17, 2014
US wheat crop drops, corn and soy production unchanged
The US wheat crop is smaller than earlier prediction due to drought, while expectations for corn and soybean crop have changed little in the latest report from the US Department of Agriculture.
The monthly update released Wednesday shows farmers producing 2.38 billion bushels of winter wheat, down 2% from a month ago and 10% from last year.
Farmers are expected to produce a record 13.9 billion bushels (353 million tonnes) of corn and 3.6 billion bushels (97.98 million tonnes) of soybeans, both unchanged.
A cool wet start to planting season improved as May progressed and the USDA says corn crop conditions are better than any time since 2007 in the Corn Belt.