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TSCRA Daily News Update, August 15, 2008
USDA releases fall crop report Despite severe flooding throughout the Midwest, the United States Department of Agriculture (USDA) is forecasting the second largest corn crop on record, and the fourth largest soybean crop. On Aug. 12, 2008, USDA released its projections for fall 2008, which include 12.3 billion bushels of corn production at an average yield of 155 bushels per acre. Although this represents a six percent drop from 2007's record production, it remains 17 percent higher than production levels of 2006. Soybeans are projected to reach 2.97 bushels, with an average yield of 40.5 bushels per acre.
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