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Corn fell to its lowest spot price in almost seven years and Chicago wheat hit multi-year lows on speculative and technical selling. Soybeans and soybean meal also eased, while soybean oil rose on product spread adjustments.
The private crop tour yield estimate for corn came in below USDA's most recent figure.
Multi-year lows in corn and wheat make cheap energy and protein feed available to buyers, but the large new-crop supply outlook limits any near-term rebound. Soybean meal weakness reduces protein feed costs.
brownfieldagnews.comJohn PerkinsAug 26, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
