Regional drought and/or excessive heat is expected to damage corn yields, which last month USDA projected to reach 158.7 bushels per acre in 2011. Last year, corn yields came in at 152.8 bushels following the agency’s forecast of 165 bushels.
USDA’s World Agricultural Supply Demand Estimates report was issued on August 11 and the agency dropped its yield projections while raising pricing for corn, soybeans and wheat.
Corn production was lowered to 13.9…
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