date:Jan 02, 2014
covering from the prior season when crops were hurt by the worst drought since the 1930s. The U.S. corn output, which is the world's biggest, will total 355.3 million metric tons, up 30 percent from the previous year, U.S. Department of Agriculture estimates.
Soybean futures for March delivery fell 1.24 percent, leaving prices poised for an 8 percent drop this year, while wheat fell 23 percent in 2013, the biggest dip since 2008.
Farmers worldwide are producing record amounts of commodities fr