USDA has lowered its outlook for the 2011 U.S. corn crop while making an increase to the soybean projection.
USDA has corn at 12.497 billion bushels, a little below the average pre-report guess and down 3% from August but still up modestly from the year ago total and potentially the third largest ever.
However, given the difficulties faced by the crop this year and usual crop size trend – the estimate will more than likely come down as harvest gets underway. USDA does note record high ear
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