Bumper Corn Concerns: How it could strain storage capacity and hold down prices
Corn storage could hit levels not seen in nearly two decades, and that bumper crop spells good news for livestock owners but bad news for farmers already feeling pressure on their profits.
U.S. corn farmers are set to harvest their third-largest crop ever. USDA estimates corn left in storage could surpass levels held for seven years.
The Department says that could mean a 50 percent jump in storage when harvest starts next year and the largest single-year jump in nearly 20 years. This will bring more affordable prices for livestock feed and ethanol but cut profits for corn producers.