This year's soybean crop will be the biggest ever - and bigger than projected a month ago - and the corn crop is also projected larger than in October, according to the latest USDA forecasts.

 

The soybean harvest, which as of Sunday was 95 percent complete, will total 3.981 billion bushels, up 93 million bushels from October's estimate, USDA said yesterday in a monthly report, the World Agricultural Supply and Demand Estimates. The increase is mainly due to higher yields in Iowa, Illinois and Minnesota.

 

Corn production will reach 13.654 billion bushels, after USDA added 99 million bushels from the month-ago projection, shy of last year's record crop of 14.2 billion bushels. Yields are averaging 169.3 bushels an acre, just 1.7 bushels below last year when they were the highest ever. About 93 percent of the crop was in the bin, USDA said Monday in a separate report.

 

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