Record Corn Crop in Fields

USDA Oct. 10 raised its forecast for 2003 corn production, projecting the national average corn yield  to a record 142 bushels per acre.  USDA reduced its estimated corn price for 2003-04 by 20 cents per bushel.

If realized, U.S. corn production will be the largest ever at 10.2 million bushels.  Expected yields across much of the Corn Belt and Great Plains are projected higher than earlier estimates.  Corn prices are expected to follow their normal pattern into 2004.  Prices likely will be lowest during harvest and increase into the winter months. Hot dry conditions in August did not reduce corn yields much. 

Source:  Livestock Marketing Information Center