Forecast for Huge Harvest Weighs On Corn Futures - Barrons.com
IT'S NOT JUST THE U.S. where production is likely to surge this year. Both Argentina and Brazil—expected to be the world's second- and third-biggest corn exporters in the next crop year, behind the U.S.—produced record harvests this year, the USDA estimates. Argentina's corn harvest rose 26% on the year to 1.04 billion bushels, and Brazil's rose 5% to 3.03 billion bushels, according to the USDA. And production in Ukraine, the fourth-biggest exporter, is expected to rise 24% to a record 1.02 billion bushels in the next crop year.