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Corn crop brushes 14 billion bushels

It’s close, but not quite 14 billion bushels. Contrary to what analysts expected, the USDA’s figures on the size of the corn crop currently being harvested was just under 14 billion bushels. It’s a big crop, but not as big as some expected, including National Farmers Organization market analyst Pete Lorenz. Specifically, the Agriculture Department projects corn at a record 13.989 billion bushels, up 1% from September, with an average yield of 160.4 bushels per acre.

Soybeans are estimated at 3.258 billion bushels, 3% above September, with an average yield of 43.0 bushels per acre.

Brownfield’s John Perkins talked with National Farmers Organization market analyst Pete Lorenz to get his take on the report.

AUDIO: Pete Lorenz (3 min. MP3)