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
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- Court rules against Greenwood councilwoman; must give up office
- David Duval, former British Open winner, joins Sanderson Farms field
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal