The 2013 corn crop is expected to come in at a record 13.8 billion bushels, up 28 percent from last year. If that happens, supplies will build to an eight-year high, making the famine-to-feast reversal the largest annual swing in more than half a century.
But even with a big harvest coming, Mother Nature has added a unique twist: A historically wet spring delayed planting by weeks, and cool wet weather that followed means farmers expect a delayed harvest.
Instead of drought, this year farmers are worried about an early frost that could wipe out their crops —a new anomaly that would delay a return to normalcy for the farm economy.
“A lot of strange things happen after a drought that has a severity to be the worst one in 80 years,” said Rodney Weinzierl, executive director for the Illinois Corn Marketing Board.
Roughly 1,000 barges carrying newly harvested southern corn will likely travel north by mid September, according to Baker. A barge trader interviewed by Reuters confirmed that estimate, which would be up about ten-fold from last year.