Soybean, corn prices tumble after report
Published: April 1,2010
NEW YORK — Soybeans are leading a big sell-off in grains trading after the government released its latest crop report.
The Agriculture Department said yesterday that soybean stockpiles are larger than expected. And it forecasts that farmers will plant 78.1 million acres of beans. That would make 2010 another record year of production.
May soybeans are down 39.5 cents, or 4.1 percent, at $9.345 a bushel in midday trading March 31. The drop is similar to the slide two months ago after a USDA report showed bigger-than-expected production.
Corn plantings are also expected to go up this year. The USDA estimates farmers will plant 88.8 million acres.
May corn is down 8.25 cents, or 2.3 percent, at $3.4625 a bushel.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- Dak Prescott's autograph fetches a pretty penny
- Gulf oil and gas leases to go up for sale in March
- Grand juries charge seven with election violations
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment
- Airport gets grant to support seasonal service from Sun Country
- State officials identify first flu case this season
- STAYING POSITIVE — Career attitude help Brynn Joachim to fight disease at 41