13.08.2015 - Agricultural commodities sink after USDA report
A bearish U.S. Department of Agriculture report sent corn, wheat, and soybean futures sliding on Wednesday after it revealed harvests came in above expectations. The USDA forecast the 2015-16 soybean harvest at 3.916 billion bushels based on an average yield of 46.9 bushels per acre. Both figures were above the government's previous forecasts and topped the high end of the range of market estimates. Corn and soybean futures fell sharply after the report was released, with Chicago Board of Trade new-crop November soybean futures sliding 5.8 percent to its lowest since mid-June. December corn sagged 5.6 percent...............................................Full Article: Source
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