USDA: U.S. corn, soybean headed for record year
The federal government says U.S. corn and soybean farmers are on track this year to produce the largest crops in history.
WASHINGTON (AP) — The federal government says U.S. corn and soybean farmers are on track this year to produce the largest crops in history.
The U.S. Department of Agriculture forecasts that production of both grains will top last year's output by 2 percent, the current record. It is forecasting corn production of 13.4 billion bushels in 2010, and soybean production of 3.43 billion bushels.
Corn yields also are expected to be the best on record, while soybean yields should match last year's all-time high figure. The USDA says production of cotton and wheat also will rise in 2010.
Wheat futures have been rising as the hottest summer in 130 years has sparked massive fires in Russia, costing that country more than a third of its wheat crop and prompting the government to ban wheat exports.
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