USDA lowers corn, soybean harvest estimates by 1 percent

AP News
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Posted: Oct 09, 2015 1:42 PM

DES MOINES, Iowa (AP) — The U.S. Department of Agriculture has slightly lowered its corn and soybean harvest estimates based on updated harvest figures across the U.S.

Farmers are expected to bring in 13.56 billion bushels of corn, about 1 percent lower than the September estimate but still the third largest crop on record. Record per-acre corn yields are expected in 11 states — including Iowa, Nebraska and Wisconsin.

Soybean production estimates are also 1 percent lower. But the 3.89 billion bushels would be the second largest on record. Best-ever yields are expected in seven states, including Iowa, Minnesota, Nebraska and South Dakota.

About a fourth of the nation's corn crop has been harvested, which is slightly behind average. Soybeans are ahead of the five-year average with 42 percent harvested.