USDA cuts forecast for corn, wheat and soy production

The United States Department of Agriculture (USDA) forecast show US farmers will harvest dramatically less grains than expected this year. This in turn will fail to ease high prices and rebuild low global supplies. The agency now forecast farmers will produce 12.914 billion bushels of corn this year, down 4.1 percent from its estimate last month. Although just below record levels, the harvest comes as booming global demand for corn has left supplies historically low. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers