15-08-2014 05:42 AM | USA

Record US crop could kill profits for Minn. grain farmers

The nation's farmers will haul in their biggest corn and soybean crops ever this fall — but that's not good news for Minnesota.

Farmers here expect a down year because of June's damaging weather. The bumper crop elsewhere means corn prices won't go high enough to make a profit. Minnesota's projected to harvest 168 bushels an acre while Illinois and Iowa could average 20 bushels an acre more, according to data released Tuesday by the U.S. Agriculture Department. "We're going to be buried in crop for right now," said Peter Georgantones, a commodity specialist with Abbott Futures.
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