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Cool, ideal summer weather set high expectations for the country’s corn crop, and the USDA’s latest World Agricultural Supply and Demand Estimates report shows just how much the crop benefited.
In Tuesday’s report, the USDA forecast 2014-2015 corn production at a record 14.03 billion bushels, 172 million bushels higher than forecast in the USDA’s July report.
“The first survey-based corn yield forecast, at a record 167.4 bushels per acre, is up 2.1 bushels from last month’s trend-based projection,” the USDA wrote.