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USDA forecasts bumper crops

Last update: August 12, 2008 - 8:35 PM

 

The U.S. Department of Agriculture said Tuesday that this year's corn and soybean crops should be stronger than previously forecast. Here are some highlights from its August crop report:

• Corn production is forecast at 12.3 billion bushels, down 6 percent from last year but still the second-largest corn crop on record. Yields are expected to average 155 bushels per acre, up 3.9 bushels from last year.

• Soybean production is forecast at 2.97 billion bushels, up 15 percent from last year and the fourth-largest harvest on record. However, yields are expected to average 40.5 bushels per acre, down 0.7 bushel from 2007.

• Wheat production is forecast at 2.46 billion bushels, up 19 percent from 2007. The yield is forecast at 43.5 bushels per acre, up 3 bushels from last year.

Source: USDA

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