KANSAS CITY (B)--As the corn crop passes the halfway point in its development, futures prices already have dropped past the trading-year low that analysts were predicting for harvest time. Production estimates keep going up, highlighted by the U.S. Department of Agriculture's forecast for a 10.3-billion-bushel crop.

"Usually, the corn market reaches its seasonal lows in July only when yield prospects are eroding and the supply outlook just keeps getting smaller," said Kansas State University economist Bill Tierney.

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