Bigger crops derail markets

Futures sink as USDA pitches bearish curveball.

Traders went into today’s USDA report thinking corn and soybean crops were as big as the agency estimated in August. Instead, production estimates went up, sending futures sharply lower. Though not all today’s numbers were bearish on the world level, the market is focusing on the U.S. data today.

 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish