Dean Foods blamed a decadeslong drop in milk consumption that has seen people turn to alternatives like soda, juice and almond milk.
The Dallas company said it may sell itself to the Dairy Farmers of America, a marketing cooperative owned by thousands of farmers.
The U.S. Department of Agriculture has lowered its estimate of this year's corn crop to the lowest in four years, saying wet weather has delayed planting and reduced acres planted and the expected per-acre yield.
The Senate has approved legislation to legalize hemp in Idaho. The Senate voted 32-3 Monday to approve the bill that would legalize the growing and selling of hemp products containing 0.3 percent or less of THC, the cannabis compound that gives marijuana its high.