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
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Analyst: KiOR Columbus plant may end up sold as scrap
- Warden who lives hundreds of miles from jail resigns
- Jail kitchen supervisor pleads guilty to stealing food
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Hunting-weapons legislation passes House
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi