AG POLICY NEWS
CBO Projects Record Corn Crop
Chris Clayton DTN Ag Policy Editor
Wed Feb 6, 2013 04:59 PM CST

OMAHA (DTN) --- The Congressional Budget Office projects a record corn crop in 2013, a near-record soybean crop and lower prices for both.

In an early projection of crop production and the costs of government farm programs, the CBO forecast average corn prices at $4.51 per bushel next fall because farmers will plant 97 million acres with an average yield 161.5 bushels per acre and produce a 14.5 billion bushel corn crop.

CBO's numbers steal some thunder from USDA's forecasts set to be released next week leading up to the USDA Outlook conference set for Feb. 21-22.

The CBO ...

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