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Iowa Ag Review

Abstract

Current weather forecasts and crop condition reports indicate that bumper crops likely will fill the bins this fall. The July U.S. Department of Agriculture (USDA) World Agricultural Supply and Demand Estimates report raised its estimates of 2003–04 U.S. corn production by 210 million bushels from last month’s projections, to 10.27 billion bushels, as current crop conditions and forecasts indicate higher prospective yields than the trend yields used in the previous estimates. USDA also raised the projected U.S. soybean production to 2.89 billion bushels, up 30 million bushels from June’s estimates.

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