While the drought this summer reduced the corn and soybean crops, both weren't as low as expected, according to Reuters News. The U.S. Department of Agriculture lowered its corn forecast less than 1 percent. By year end, the corn surplus is reported to be 24 percent larger than expected. The USDA lowered soybean forecasts 2 percent and while small, a surplus of soybeans is expected as well. Full article.
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