WASHINGTON – The U.S. Department of Agriculture (USDA) on Friday reduced its forecast for corn and soybean harvests because of drier weather.
Corn production will be 12.1 billion bushels, down from its 12.3 billion estimate last month, the USDA said. The soybean crop is projected to be slightly lower, at 2.93 billion bushels, down from its earlier estimate of 2.97 billion, according to reports.