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Cool summer sets expectations for a record harvest
Cool summer raises expectations of record corn, soybean harvest; seed, GPS technology factors
By DAVID PITT
Associated Press
2014-08-09 03:01 AM

DES MOINES, Iowa (AP) -- Corn and soybean farmers in the U.S. are on track to produce record crops this year as a mild summer has provided optimum growing conditions.

The U.S. Department of Agriculture has predicted a record soybean crop of 3.8 billion bushels.

The USDA said last month the corn crop will be just under last year's record of 13.9 billion bushels, but many market analysts and farmers expect that to be revised upward Tuesday in a much anticipated report.

Technology is also aiding the large harvests with high-yield seeds and planting systems that use GPS.

The harvest forecast has driven corn and soybean prices significantly lower, but it isn't expected to make much of a short-time difference in consumer food prices.

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