National Ag News
Soybeans, corn, wheat down sharply on USDA numbers
Aug 10, 2017, 17:04 PM
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System
Soybeans were sharply lower on commercial and technical selling. The USDA expects a bigger crop this year than last year, with record acreage cancelling out a lower average yield. USDA lowered old crop ending stocks, while increasing the new crop outlook. USDA did raise the old and new crop export estimates, while lowering the 2016/17 crush, but increasing 2017/18. Soybean meal and oil followed beans lower, despite nominally bullish adjustments to the balance sheets.
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