
Cash soybean and corn sales in the US Midwest nearly stopped on Wednesday as farmers held back at low bids. USDA reported soybean harvest 88% complete and corn 74% complete, and it expects record soybean and second-largest corn crops.
CBOT corn fell to a four-month low and soybeans to an 11-week low.
Farmer hoarding reduces near-term cash supply, but large expected US crops and weak futures keep pressure on corn and soybean prices. Feed buyers face ample supplies at lower prices.
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.