What happened
The FAA’s narrative, in sentence case. The FAA writes it in capitals and removes private details.
On takeoff the student failed to apply full power adn was having trouble correcting for the crosswind. The instructor applied full power and was instructing the student on how to correct for the crosswind before discovering not enough runway remained for takeoff. The instructor took control of the aircraft and cut power in an attempt to abort the takeoff. He took control of the aircraft too late and was unable to stop the aircraft before it left the runway and went into a cornfield.
As the FAA filed it
ON TAKEOFF THE STUDENT FAILED TO APPLY FULL POWER ADN WAS HAVING TROUBLE CORRECTING FOR THE CROSSWIND. THE INSTRUCTOR APPLIED FULL POWER AND WAS INSTRUCTING THE STUDENT ON HOW TO CORRECT FOR THE CROSSWIND BEFORE DISCOVERING NOT ENOUGH RUNWAY REMAINED FOR TAKEOFF. THE INSTRUCTOR TOOK CONTROL OF THE AIRCRAFT AND CUT POWER IN AN ATTEMPT TO ABORT THE TAKEOFF. HE TOOK CONTROL OF THE AIRCRAFT TOO LATE AND WAS UNABLE TO STOP THE AIRCRAFT BEFORE IT LEFT THE RUNWAY AND WENT INTO A CORNFIELD.