Record corn harvest predicted this year

Farmers will produce a record-breaking corn harvest this year, surpassing earlier expectations of the U.S. Department of Agriculture, which on Tuesday revised upward its estimate of this year's corn crop to 14 billion bushels to exceed last year's 13.9 billion bushel record.

According to the Associated Press, adequate rain and cool temperatures created ideal growing conditions in the 18 states that product 91 percent of the nation's corn.

With the increase in the amount of corn, prices have dropped, prompting farmers to take more control of their grain marketing by building more on-farm storage, holding onto the crop and timing the sale to maximize profit.

Read more from the Associated Press.