Tuesday, 02 January 2024 12:17 GMT

U.S. Corn Harvest Forecast To Be Largest Since 1933


(MENAFN- Yolo Wire) The U.S. Department of Agriculture (USDA) is forecasting the largest %Corn harvest since 1933 this autumn.

According to USDA estimates, American farmers will harvest the most acres of corn since 1933 and produce more of the grain than previously expected.

The government agency has raised its estimate for how many acres will be harvested in its latest monthly supply and demand report.

This year's harvest is set to swell due to the large harvest, benefiting livestock producers that use the crop for feed, as well as ethanol producers.

However, the big crop is pushing down corn prices even as costs for inputs such as fertilizer and seeds continue to trend higher.

Consequently, cash receipts for U.S. corn are forecast to fall for a third straight year to the lowest level since 2007 as farmers get paid less for their autumn harvest.

The USDA raised its 2025 U.S. corn production estimate to a record 16.814 billion bushels. It projected a record average yield of 186.7 bushels per acre.

Favorable weather for much of the summer growing season boosted yield prospects, says the USDA.

End-of-season U.S. corn stocks for the 2025/26 marketing year are projected at 2.11 billion bushels, down slightly from the USDA's forecast a month earlier as record U.S. exports are seen absorbing more of the crop.

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