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USDA lowers forecast for US corn, soybean crops

USDA lowers forecast for US corn, soybean cropsrncorn and soybeanrnPhoto: Adobe stockrn09.14.2020By Ron SterkrnWASHINGTON, DC, US — The US Department of Agriculture, in its Sept. 11 Crop Production report, lowered from August its forecasts for 2020 US corn and soybean production after adverse weather in August and drought conditions in some key production areas.rnrnThe USDA forecast 2020 corn production at 14.9 billion bushels, down 2% from a record 15.28 billion bushels forecast in August but up 9% from 13.62 billion bushels in 2019. The five-year average corn outturn was 14.26 billion bushels, and the record corn crop was 15.15 billion bushels in 2016.rnrnrnThe 2020 corn forecast was based on a harvested area forecast at 83.473 million acres, down from 84.023 million acres forecast in August but up from 81.322 million acres in 2019.