USDA projects record US corn and soy crops

Record yields will result in record large US corn and soybean crops, USDA said at its Outlook Forum, based on current commodity prices, which affect plantings, and on normal weather.

It would be the second record corn crop in a row, 13.985 bln bu vs 13.925 bln bu in 2013. End stocks are projected for 2.111 bln bu, largest since 2004/05, a surplus that will pull down prices. Along with a record yield, soybean plantings of 79.5 mln ac would be the largest ever and the crop of 3.55 bln bu would be 6 pct larger than the record 3.359 bln bu in 2009.

The cotton crop was projected for 16.3 mln bales, up 24 pct from last year on larger plantings. China, the world’s largest cotton importer, was projected to import 8 mln bales in 2014/15, down 27 pct due to policy reforms.

For details:

Grains and oilseed outlook

Cotton outlook

Livestock and poultry outlook

Sugar outlook

Dairy outlook

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