A bumper harvest will strain storage capacity and hold down prices of the world's most traded commodity crop. Already corn prices are trending near three-year lows at a time when some food prices are rising due to tight supplies of other staples like rice, stoking inflation worries. Just 16 months ago corn prices were at their highest in a decade as the war in Ukraine disrupted supplies from the Black Sea breadbasket. USDA forecast that domestic corn supplies would jump 55% to 2.111 billion bushels in the 2023/24 marketing year, helping push the global stockpile to a five-year high by September 2024. Some growers need to take out loans to fund their operations as they wait and hope corn prices will rise.

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Persons: Shannon Stapleton, Steve Pitstick, Pitstick, Stephen Nicholson, Bill Roenigk, Harold Wolle, Wolle, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: REUTERS, U.S . Agriculture Department, Brazil, Rabobank, Corn, Maine Foods, U.S, Growers, Thomson Locations: Kelley , Iowa, U.S, PARK , Illinois, Chicago, Illinois, Ukraine, Cal