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Producers' Shift to Soybeans Won't Avert Grain Glut

Corn harvest could total 15.6B bushels, the largest ever

Soybean field 1610754 960 7202

Low market prices will deter farmers from planting as much corn as they planned a month ago, but a record corn crop is still on the horizon, said two Purdue University economists on Monday.

According to a report at Successful Farming, the mammoth crop would create the largest corn stockpile since the late 1980s, while the already-large soybean stockpile grows bigger still.

With normal weather and yields, the corn harvest could total 15.6 billion bushels, the largest ever, even if plantings drop to 96 million acres.

If soybean plantings rise to 84.5 million, the crop would total 4.1 billion bushels, the fourth-largest on record.

Read the full report here.

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