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Bearish USDA numbers sink crop prices

Rainy Midwest to turn hot and dry. (audio)

USDA on Wednesday raised its production forecasts for this year’s corn, soybeans and winter wheat plus raised ending stocks for corn and wheat.

The changes prompted selling in the crop markets, where corn, soybeans and wheat are lower for the day. Spring wheat has the smallest losses due to the ongoing problems with that crop.

Listen to the report using the audio link on this page.

 

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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