Corn Extends Drop to 33-Month Low on U.S. Crop; Soybeans Decline - Bloomberg
“In most areas, the crops are growing rapidly, and production figures are higher and rising,” economist Dennis Gartman said today in his daily Gartman Letter. “We may well see a corn crop becoming steadily closer to 15 billion bushels.”Flashback: Record Corn and Soybean Yields Are Predicted - NYTimes.com
The Department of Agriculture, in a report released on Wednesday, estimated that 14 billion bushels of corn will be produced this year, a forecast that, if it holds true, would crush the previous record of 13.1 billion set four years ago.