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.
Top Posts & Pages
- The Dan Jones-IHL saga: Is this the story that started it all?
- Dan Jones rejects IHL offer, won't publicly apologize
- BREAKING NEWS: Trustees offer new deal to Ole Miss chancellor Dan Jones
- DAVID DALLAS — From Dan and Dixie with love
- Email from Nash to Delta Council’s Morgan included in DHA court file
- Suit against Kemper employee Brett Wingo is dismissed
- Law to bolster utilities’ economic development efforts gets mixed reactions
- College Board sets Friday meeting to discuss Dan Jones
- Developers withdraw zoning application for former country club