USDA Forecasts Bigger Crops, Lower Prices for 2023-24 Crops

U.S. farmers are forecast to plant 91 million acres of corn, up 2.4 million acres from last year, and produce a 15-billion-bushel crop while soybean acres will hold pat at 87.5 million acres and produce 4.5 billion bushels, according to USDA’s initial Outlook on the 2023-24 crops.USDA also forecasts lower corn and soybean prices as production increases as well. USDA released its Grain and Oilseeds Outlook at the opening of its annual Outlook Forum on Thursday in Arlington, Va. Read more