Corn, Wheat Prices Fall Despite USDA Forecasts
Associated Press -- August 13, 2012 -- Prices for wheat and corn are finally easing after a new crop estimate from the government came in line with private analysts' predictions.Corn for December delivery is settling down 14.5 cents to $8.0925 a bushel.
Corn has been mostly rising since late June, when it traded below $6 a bushel, because of the drought affecting farm states throughout the Plains and Midwest.
Wheat prices fell after the Department of Agriculture forecast adequate supplies. September wheat fell 27.75 cents to $8.8525 a bushel. Soybeans for November delivery rose 12.5 cents to $16.4375 a bushel.
The government slashed its forecasts for U.S. corn and soybean production for a second month, predicting what could be the lowest average corn yield in more than 15 years.
Metals and energy prices mostly fell.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Copyright notice
This is a news service of NewsEdge Corporation ©2012. This content is for your personal use only, subject to Terms and Conditions. No redistribution allowed.
Editor's Picks from Recent eNews
Save the Date for Co-Located 2013 Soy & Grain Trade Summit and Women in Agribusiness Summit
Northstar Agri Industries Announces Oklahoma Expansion Plan
Current Reports in the Resource Library at Soyatech.com
Soyfoods: The U.S. Market 2012
This annual report provides detailed information on the U.S. market by category, sub-category, brand and distribution channel.
Soyfoods: The U.S. Market 2012
This annual report provides detailed information on the U.S. market by category, sub-category, brand and distribution channel.
Copyright © 2000-2013 Soyatech, LLC. • P.O. Box 1307 • Southwest Harbor, ME 04679 • USA