The U.S. Department of Agriculture says farmers are expected to harvest the largest soybean crop on record, but they have to deal with a constricted market in which to sell their crop because of the administration's tariff battle with China. In its latest update, the USDA expected soybean harvest to tally 4.6 billion bushels. That's the largest ever!
Illinois leads soybean production with 688 million bushels, and Iowa is second. Selling soybeans to China has nearly halted with the tariff dispute resulting in a growing stockpiles and the lowest prices for farmers in more than a decade. Corn production is estimated at 14.6 billion bushels-the second largest crop on record.
Iowa remains the nation's leading corn producer with an expected 2.5 billion bushels. Watch the interview below with Ben Brown of Ohio State University about what this could mean for spring planting.
UPDATE: USDA Reports Largest Soybean Crop Ever, as Stocks Grow