13-08-2014 04:28 AM | Australia

Record crops predicted; farmers market carefully

Farmers will produce a record-breaking corn harvest this year, surpassing earlier expectations of the U.S. Department of Agriculture, which on Tuesday revised upward its estimate of this year's corn crop to 14 billion bushels to exceed last year's 13.9 billion bushel record.

A bigger crop was expected as adequate rain and cool temperatures made for favorable growing conditions in the 18 states that produce 91 percent of the nation's corn. The abundant harvest has driven prices lower, prompting farmers to take more control of their grain marketing by building more on-farm storage, holding onto the crop and timing the sale to maximize profit.
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