Corn and Soybeans fall sharply

Agricultural , Corn , Soybaens Sep 30, 2013 No Comments

Corn & SoybeansCorn futures plunged to a three-year low after the U.S. Department of Agriculture boosted its inventory estimate by 25 percent.
Soybeans dropped the most in six months as supplies topped analyst estimates by 11 percent.

Corn futures dropped 2.8 percent to close at $4.415 a bushel at 1:15 p.m. on the Chicago Board of Trade. Earlier, the price touched $4.4075, the lowest for a most-active contract since Sept. 1, 2010. Corn has tumbled 37 percent in 2013.

Soybean futures for November delivery fell 2.8 percent to $12.8275 a bushel, the biggest drop since March 28. Earlier, the oilseed touched $12.80, the lowest since Aug. 19. The price has dropped 9 percent this year.

via Corn Slumps to Three-Year Low on Rising Inventory in U.S. – Bloomberg

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website

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