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DiscoverGold

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Re: None

Tuesday, 08/13/2019 9:06:50 AM

Tuesday, August 13, 2019 9:06:50 AM

Post# of 8805
Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%
By: MarketWatch | August 12, 2019

Corn and soybean futures both fell sharply Monday after the U.S. Department of Agriculture's August production estimates projected larger-than-expected crops following an extremely wet spring that severely delayed corn planting, followed by dry conditions across much of the Midwest. Corn for December delivery CZ19, -3.06% on the Chicago Board of trade fell 25 cents to $3.9275 a bushel, a decline of 6%. November soybeans SX19, +0.40% dropped 11.5 cents, or 1.3%, to $8.8075 a bushel. The report estimated that U.S. farmers would produce 13.9 billion bushels of corn, down 4% from last year but larger than analysts had expected. Soybean production is forecast to fall 19% from last year to 3.68 billion bushels.

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• DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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