Email
Password
Remember meForgot password?
Log in with Facebook Log in with Twitter
Connect your Digital Journal account with Facebook or Twitter to use this feature.
Blog Posted in avatar   Ken Hanly's Blog

U.S. corn production predicted to decline due to drought

blog:17443:1::0
By Ken Hanly
Posted Jul 12, 2012 in Business
Severe drought conditions in the U.S. Midwest will result in much reduced yields. The U.S. Department of Agriculture now predicts that the crop will average only 146 bushels per acre. This is 20 bushels per acre lower than the June estimate.
Corn contracts on the Chicago Board of Trade saw and upward trend. December contracts rose by 23 cents to $7.40 a bushel. The drought has also lowered expectations for wheat and soybean yields.
Earlier a mild and early planting of corn led to hopes of a record corn crop. The drought changed the prospects dramatically. The USDA has also cut its forecast for the wheat crop in Russia by 4 million tonnes and in Kazakhstan by 2 million tons due to hot weather and drought in growing areas in those countries. For more see this article.

blog:17443:1::0
Latest News
Top News
Engage

Corporate

Help & Support

News Links

copyright © 2014 digitaljournal.com   |   powered by dell servers