The U.S. Department of Agriculture is estimating that Minnesota farmers could bring in a record corn crop this fall, but it warns corn prices are sinking.

The USDA is estimating the size of the Minnesota corn crop at 1.2 billion bushels, the largest ever. That’s based on an expected yield of 167 bushels an acre, which would be the second largest yield on record.

Federal Reserve Bank economist Brian Briggeman says the global recession has caused other nations to reduce the amount of U.S. corn they buy, which is depressing prices.

The soybean harvest in Minnesota is estimated at 284 million bushels, down about 11 percent from the record set in 2006. Unlike corn, soybean farmers are seeing higher prices.