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US corn, soyabean crops seen heading for record highs, putting pressure on prices

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A WASDE report says that US corn output will rise 11 per cent this season from a year earlier, topping projections by analysts. That quickly sent corn futures to the lowest since October 2014. Investors then reconsidered demand prospects, and prices bounced higher.

Chicago

US corn and soyabeans crops are heading for record highs again, threatening to erode farmer income further and hamper agriculture credit conditions.

The US Department of Agriculture said Friday in its monthly World Agricultural Supply and Demand Estimates, or WASDE, report