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USDA forecasts record U.S. corn and soy, lower prices
2013-02-22 01:27:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: The U.S. Department of Agriculture on Thursday projected a rebound in U.S. corn and soybean yields in 2013 that, along with high planted acreage, opens the door to record-large crops and for prices to tumble from 2012/13 levels. The USDA forecast the U.S. corn crop at 14.350 billion bushels, up 35 percent on the year, and soybean output at 3.405 billion bushels, up 13 percent. "A number of factors suggest that corn and soybean yields will be likely to return to trend," Joseph Glauber, the USDA's...
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