Charlie Riedel, Associated Press
ST. LOUIS — A U.S. government report says the nation's corn growers should have banner production this year despite lesser acreage devoted to the grain. But corn prices later in the year may suffer a bit.
The U.S. Department of Agriculture released Friday its first World Agricultural Supply and Demand Estimates report of the year.
The report estimates that corn producers will harvest 165.3 bushels of corn per acre, up 6.5 bushels from the previous year. Corn acreage is expected to slip to 91.7 million acres, from 95.4 million acres.
The report is the USDA's best guess of agricultural expectations, and weather events might dramatically change the forecasts.
The season-average price for corn was forecast lower, ranging from $3.85 and $4.55 per bushel. It was $4.50 to $4.80 a year earlier.
- 4 reasons why you shouldn't shop on Black Friday
- Immigration reform will boost the economy,...
- Working on Thanksgiving Day? Here's why most...
- Review: 4 shopping apps that will save you money
- Our complete guide to Black Friday, Cyber...
- These two things are helping California's...
- UDOT tow plow drivers train for winter
- 3 Reasons holiday shoppers will spend cautiously
- Obama immigration plan good, not great... 13
- Working on Thanksgiving Day? Here's why... 12
- Immigration reform will boost the... 6
- Thanksgiving trumps Black Friday for deals 4
- Facing health law hikes, consumers mull... 4
- US stocks inch further into record... 1
- The best time of year to buy (Hint:... 1