With a return to normal weather, farmers will expand vastly their corn and soybean plantings next year — enough to produce their largest corn crop ever and the fourth-largest soybean crop, according to USDA’s agricultural projections.
According to a report at Successful Farming, bumper crops will drive down market prices in the near term and create huge stockpiles that will take years to whittle down.
Meanwhile, economic growth will slow in the U.S. to less than 2% annually, constraining domestic demand for food and fiber, said the projections released on Friday.
