USDA predicts rise in corn and wheat production
Higher crop yield will put downward pressure on world feed grain prices.
Latest crop production data from the U.S. Department of Agriculture show that corn-planted area estimates remain unchanged at 35.2 million hectare, 5% higher than last year, as reported in the weeklytimesnow.com.
Wheat production is predicted to increase by 2.8 million metric tons to 659.3 million metric tons.
Chris Brown, wheat trading manager at CBH Group, anticipates a downward pressure on world feed grain prices due to the rise in corn production.