Items Tagged with 'Steve Georgy'

The Department of Agriculture’s annual Crop Production report surprised traders with increases to the 2023 corn and soybean yield, pulling prices for both commodities lower in what could be the start of a longer trend.

Department of Agriculture officials expect corn and soybean yields will average a record high this year despite lowering yield estimates from last month, and grain traders are watching to see if China keeps up ag purchases to support market prices.

The Agriculture Department estimates that farmers will harvest a record corn crop this fall and produce the second largest amount of soybeans.

USDA maintained corn and soybean yields and raised old crop ending stocks in Friday’s World Agricultural Supply and Demand Estimates report.

Corn futures contracts ended the day sharply lower after Department of Agriculture officials raised 2019/2020 corn yield estimates while lowering soybean yield estimates in the World Agricultural Supply and Demand report Thursday.

As trade disputes eroded major markets for American soybeans, U.S. producers grew more of the crop than ever befor e,according to Department of Agriculture data released Friday.