date:Nov 14, 2012
wer than currently reflected in the futures market.
The USDA is forecasting record South American production of both crops. If planted acreage of corn in the US in 2013 is at the same level as in 2012 and the US average yield is near a trend value of 162.5 bushels, the crop would total 14.6 billion bushels, about 1.5 billion larger than the record crop and record consumption of the 2009-10 marketing year. Similarly if soybean acreage is maintained at the 2012 level and the average yield is nea