Grain Prices Soar as U.S. Slashes Outlook – WSJ.com

Grain prices soared after the U.S. Department of Agriculture made another deep cut in its outlook for global supplies.

Corn and soybean futures surged the most they’re allowed to per exchange limits, hitting fresh two-year highs. Corn for March delivery, the most-active contract, recently traded up 27¼ cents, or 4.5% higher, while soybean futures for January delivery, traded up 66¼ cents, or 4.9% higher. Corn and soybeans hit a trading limit of 30 cents and 70 cents, respectively, earlier in the day on the Chicago Board of Trade.

via Grain Prices Soar as U.S. Slashes Outlook – WSJ.com.

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