Minn. corn crop estimated at record 1.25B bushels
The USDA estimates the Minnesota corn crop at 1.25 billion bushels, slightly better than last year's high-water mark.
The average yield is projected at about 178 bushels an acre, a four bushel increase over last year. On the soybean side, the agriculture department estimates state farmers will harvest about 326 million bushels, also a record.
The abundant Minnesota crops are part of a trend across the country. Plenty of rain and warm temperatures are boosting yields.
The USDA estimates both the nation's corn and soybean harvests should set records, corn at 13.4 billion bushels and soybeans at 3.4 billion bushels.
Those record crops may not be enough to offset the effects of a record drought in Russia, which has sharply reduced that nation's wheat harvest. The price of wheat and other grains have move higher over the last month, a trend that continued Thursday in early trading.
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