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Corn futures prices that approached $6.30 a bushel in June have since tumbled to $4.10, after U.S. farmers ultimately produced record crop yields. "I wish I sold a lot more," Henebry said.
The US is the world's largest producer of corn. [8] According to the United States Department of Agriculture (USDA), the average U.S. yield for corn was 177 bushels per acre, up 3.3 percent over 2020 and a record high, with 16 states posting state records in output, and Iowa reporting a record of 205 bushels of corn per acre.
The recent releases of the WASDE report provide forecasts covering: Crops (U.S. and global) including wheat, rice, corn, sorghum, barley, oats, soybeans, cotton, and sugar. Livestock (U.S. only) including meat animals, poultry, and dairy. The WASDE report is generally released between the 8th and 12th of each month at 12:00 noon [6] Eastern Time.
The creation of USDA's Crop Reporting Board in 1905 (now called the Agricultural Statistics Board) was another landmark in the development of a nationwide statistical service for agriculture. A USDA reorganization in 1961 led to the creation of the Statistical Reporting Service, known today as National Agricultural Statistics Service (NASS).
The Federal Crop Insurance Corporation (FCIC) is a wholly owned government corporation managed by the Risk Management Agency of the United States Department of Agriculture. FCIC manages the federal crop insurance program, which provides U.S. farmers and agricultural entities with crop insurance protection. Corn crops bordering the Wabash River
Crop scouting is the process of precisely assessing pest pressure (typically insects) and crop performance to evaluate economic risk from pest infestations and disease, as well as to determine the potential effectiveness of pest and disease control interventions. [1]
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