NEGOTIATOR’S TAKE: Corn at 2-year low; Wheat at 10-year low; Soybeans fall below $10 | 08.03.16 – Chicago – Prices of grain and soybean futures faltered on Tuesday, pressured by better-than-expected crop conditions and mounting expectations that U.S. farmers
The USDA has projected domestic 2014-2015 soybean production at a record-high 3.816 billion bushels, with a strong estimated yield of 45.4 bushels/harvested acre, according to the latest monthly World Agricultural Supply and Demand and Estimate report, released August 12. Chicago
In its June 30th acreage report , the USDA indicates that soybean planted area for 2014 is estimated at a record high 84.8 million acres, up 11 percent from last year. Area for harvest, at 84.1 million acres, is up
Corn 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
Temperatures are poised to pass 38°C (100°F) in the coming week in western corn-belt states such as Iowa. The heat revived memories of the devastating drought in the US last year, which slashed grain output and sent prices soaring. A
Corn, wheat and soybeans prices might have peaked after this summer drought in the US according to Macquarie Agricultural Funds Management, and it would take worsening weather elsewhere to push up futures. Corn is still up 16 percent this year
U.S. corn and soybean crops, the world’s largest, are in the worst condition since the last major drought in America’s breadbasket in 1988, the government said on Monday, pushing up grain prices and raising the prospect of global food-price inflation.