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Article: Record Corn, Soybean Crops
- Article from:
- Chicago Sun-Times
- Article date:
- October 12, 1994
- Author:
CopyrightCopyright 1994 Chicago Sun-Times. (Hide copyright information)
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WASHINGTON The nation's farmers are posting a stunning recovery
from last year's floods and drought, harvesting record crops of corn
and soybeans.
The Agriculture Department today forecast the corn harvest at
9.6 billion bushels and soybeans at 2.46 billion bushels. Nearly
ideal weather throughout the Midwest caused both crops to mature
early and stay hardy.
The bumper crops will knock down prices received by farmers,
raising the prospect of higher government spending to maintain farm
income.
But the bulging bins should have no major impact on consumer
prices, because raw goods make up such a small part of retail prices.
By keeping a lid on animal feed costs, the heavy harvest should ...