Along with raising its projected corn yields, USDA’s October 9 supply and demand estimates lowered overall cash receipts for corn and soybeans for the 2009-10 crop year. Analysts believe this is a negative for future equipment sales.
According to the agency’s most recent report, final grain production for the 2008-09 crop year was mostly in line with trade expectations, but it revised 2009-10 corn yields up to 164.2 bushels per acre vs. its prior forecast…
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